Useful Links When Building a Home in Victoria
Are you in the process of building a home in Victoria? We understand that navigating the complexities of home construction requires access to valuable resources. To make your journey smoother, we’ve compiled a curated list of useful links, connecting you with essential organisations and information relevant to the construction landscape in Victoria. Whether you’re a homeowner, architect, developer, or builder, these links aim to provide you with the necessary insights and support for a successful and informed building experience in the beautiful state of Victoria.
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2023 New Home Builds Are Becoming More Expensive in Australia
What’s behind this increase in construction costs? The answer lies in a few key factors. Energy costs are going up globally, which affects the price of some construction materials like cement, glass, and aluminum. These are energy-intensive resources, meaning they require a lot of power to produce.
Supply chain issues have also played a part. Even though things are improving, builders in Australia still sometimes struggle to get certain materials quickly. For instance, concrete, which requires a lot of energy and space for transport, is one material that can be difficult to obtain.
Have Building Costs Increased in Melbourne?
The cost of building materials has increased significantly in recent years across Australia, and Melbourne is no exception. According to various sources, building costs in Melbourne have ballooned 20% in the last 12 months, and the trend is expected to continue.
Matt Saunderson, a quantity surveyor who assesses the costs of major building contracts, estimated that the cost of building materials had risen by about 20% in a year, resulting in at least a $100,000 increase in the cost of an average project home worth $400,000.
Cost to Build a New Home in Melbourne
The cost to build a new home in Melbourne is a concern for home buyers in any market, but 2022 is proving to be more challenging. Australia has not been immune to global supply chain issues and labour shortages creating unique challenges for home buyers wanting to build new.
Cost is determined by many different factors, including where you will live, the size of your home, and the type of block on which you will build. Keep reading to learn how much it will cost to build a new home in Melbourne, and where to turn to get the best deals.