By Editor| September 30th, 2011 | Category: Real Estate News
Australia is one of the most expensive places to build, according to the International Construction Cost Comparison Report.
The report details the standard for construction costs in 55 countries, using UK prices as a baseline. It lists Australia among the top ten of the most expensive countries to build. However consumers will find solace in the fact that the high costs are offset by the relatively cheap cost of labour, which is in stark contrast to some of the other top 10 members.
Denmark and Sweden have both retained their respective titles as second and third most expensive places to build, with Switzerland topping the list with prices 71% higher than in the UK. India and Sri Lanka feature at the opposite end of the spectrum (although not in the top ten) with prices an average of 72% the UK baseline.
Canada is the only other non-European country to feature on the top ten list, with prices said to be on par with the UK.
By Editor| July 12th, 2011 | Category: Real Estate News
A carbon tax knock-on effect could add roughly $5,000 to home construction costs as it becomes more expensive to manufacture materials. The Master Builders Association said it expects roughly $5,000 to be added to the current $300,000 cost of an average residential home.
"There's so many products that go into making a house, it's logical that a tax of this nature is going to have an impact on the sector," says MBA chief economist Peter Jones.
However new homeowners who intend to make their newly constructed dwellings as energy-efficient as possible might be in for a further shock: insulation and double glazing are expected to be hit by the full impact of the tax.
According to Australia Glazier and Glass Association executive director Nigel Carpenter, it seemed “ironic” that smaller manufacturers that make more energy-efficient products won’t receive the support that larger manufacturers of the less energy-efficient float glass will be receiving.
Although it has not yet been decided whether manufacturers or buyers will absorb the additional costs, many agree that this will have an overall negative impact on a very sensitive housing market.
By Editor| June 10th, 2011 | Category: Real Estate News
Experts say that the real estate sector is not experiencing a bubble. Several key elements are missing. It is true that some properties may be considered to be overpriced but a crash is unlikely. The key reasons for this are that unlike the US, Australia is not experiencing a building boom. Infact we have about a 200,000 housing shortfall nationally. This is leading to higher rents which is helping to keep a floor on propery prices.
By Editor| April 7th, 2011 | Category: Building News
The new process will allow builders and developers to bypass local council which will significantly speed up the development assessment and approvals process.
Even though the Building Act is currently before Parliament, the property council expects the Commission to have the private certification framework in place and ready to commence in October.>