QMBA-Cordell benchmark survey on cost of new housing
The Queensland Master Builders Association (QMBA) today released the results of the first in a series of quarterly surveys monitoring the cost of new housing construction in South East Queensland.
Material prices remain the most costly element of new home building, followed by labour costs, although recent developments such as government legislation and levies are affecting construction costs.
"Whilst many of the recent imposts are a move towards best practice in the housing industry, they directly impact on the cost of construction," said Peter Osterhage of the QMBA.
In analysing the breakdown of the cost of building a new house it was found that materials accounted for the largest proportion of the costs (38%), followed by labour costs (26%), with professional fees and government charges including the GST contributing 21% towards the total cost.
For the various trades involved in building a new house, those which absorbed a larger proportion of the costs were preliminaries at 12%, concrete work at 10%, joinery 9%, carpentry 8%, plumbing & drainage 7% and brickwork 7%.
Costs were based on a new single-storey four bedroom family home with two bathrooms and double garage, typical of many homes built in South East Queensland.
The survey was conducted by Reed Construction Data in conjunction with the QMBA.
The Queensland Master Builders Association, established in 1882, is the largest employer association in Queensland and represents the interests of businesses operating within the building and construction industry. Ninety-five per cent of all construction and 85% of all housing in the state is conducted by its members.
For over 34 years Reed Construction Data's (formerly Cordell Building Information Services) core business has been to research and track the cost of building materials and labour for clients in the construction, property and insurance industries.
Media Enquiries: For more information contact Mike Bartlett, Costing Division Manager, Reed Construction Data. Phone (02) 9934 5555. Email: info@rcd.com.au