How Much Does It Cost to Build in Sydney?
Cost of Building in Sydney
Unfortunately, construction costs in Sydney do not come with a one-size-fits-all solution – convenient as that would be.
According to an article by Realestate.com.au, lot price has the most significant impact on the final cost of construction, with Sydney’s median lot price sitting at around $476,000 as of 2017.
As a comparison, the median prices for Melbourne and Adelaide were $281,000 and $167,000 respectively, and the national average for Australia is $746 per sqm.
Average costs for building a home in Sydney- 2018
The lot size may have the most significant influence on construction costs, but there are still plenty of other variables which can dramatically increase the price as well.
The Australian Bureau of Statistics puts the national average for building costs at $1,270.80 per sqm as of June 2018, but this figure neglects to account for planning permits, design costs, blow-out costs, and site works. Throw architectural design into the mix, and you can blow that figure out to $3,000 per sqm.
In general, there are five big influencers for building costs which includes the size of the building, timeframe, complexity, quality, and site considerations such as the slope of the land, and soil type.
However, if you take the average cost of construction at $1,270.80 and apply it to the average size of an Australian block of 251.7sqm, then you are looking at a ball-park construction cost on a suburban block coming in at around $320,000.
Use a Sydney construction cost estimator and build faster!
Sydney construction cost estimators like Newin Building Estimating Services remove much of the cost uncertainty associated with building or renovating.
Newin can help home builders and renovators more accurately estimate building costs to ensure their projects remain viable. Call today to find out more.
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