The cost of building a house in Western Australia soared 20.3 per cent over the year to September as demand boomed, raising the spectre of a return to pandemic-like inflation in other states if falling interest rates push up housing demand.
The amount people in WA pay their builder for a newly completed house, excluding land, jumped 4.1 per cent in the September quarter alone, Australian Bureau of Statistics figures published on Friday show. Building costs in the state are growing at four times the national rate.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
