CoreLogic’s Cordell Construction Cost Index (CCCI) for Q1 2022 showed national residential construction costs increased 9% over the 12 months to March 2022, the highest annual growth rate on record outside of the introduction of the GST (10.2% over the year to March 2001). The CCCI quarterly growth rate reaccelerated in Q1 2022 to 2.4%,…
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Despite an easing in the quarterly growth rate, national construction costs increased 7.3% over the 2021 calendar year – the highest annual growth rate since March 2005, according to the latest figures from CoreLogic. CoreLogic’s Cordell Construction Cost Index (CCCI) found a softening in quarterly construction cost growth in Q4 to 1.1%, from the 3.8% surge…
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There is no doubt that the construction industry is doing its best to maintain momentum through this period to support economic recovery. However, the building sector, in general, is still experiencing a significant price increase in building materials, particularly when it comes to steel and timber products, due to sourcing and shipping constraints. There are…
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