The cost of building a home has seen a huge uptick in the space of a year, as industry experts warn the consequences of red tape and fees will make the hosing crisis worse.
Lachlan Leeming and Tyson Jackson 3 min read February 19, 2024 - 8:15AM Daily Telegraph
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The cost of building townhouses and apartments has soared by $60,000 in a single year and the number of houses being started in 2024 is predicted to plummet to the lowest level in eight years.
The dire picture of the housing supply crisis has emerged as the state’s biggest home builder McDonald Jones revealed clients are cancelling their builds, spooked by rising costs.
The builder claims government fees are making the problem worse and undermining both Premier Chris Minns’ and Prime Minister Anthony Albanese’s housing targets.
New analysis of Australian Bureau of Statistics data by Master Builders Australia show, in the three months to December, the average building cost for semi-detached, terrace and townhouses in greater Sydney jumped to $461,000 – up from $401,600 a year earlier.
Thank you Bowen, your net zero target will have everyone broke before you know it!
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