Construction costs surge at fastest annual pace since GST was introduced

Australia’s residential construction costs increased 9% over the 12 months to March – the highest annual growth rate on record since the introduction of the GST (10.2% over the year to March 2001), according to CoreLogic’s Cordell Construction Cost Index for Q1 2022. The CCCI quarterly growth rate climbed in Q1 2022 to 2.4% –…