Even though costs have eased, prices of building materials and inputs are still rising at a rate that threatens projects and overall inflation levels.
Costs in home building will rise this year at above-average rates as timber and metal prices keep increasing, posing the risk of delays to projects and adding to inflationary pressures in the wider economy, CoreLogic says.
“With some materials such as timber and metal products reportedly remaining in short supply, there is the possibility some residential projects will be delayed or run over budget,” Mr Lawless said. Increases in steel and copper prices, as well as timber shortages, would drive building costs up this year, quantity surveying firm Slattery said.
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