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It could become more expensive to build a house this year.
Cotality, formerly known as Corelogic, has released its latest Cordell Construction Cost Index, which shows residential building costs increased by 0.9 percent in the three months to December.
The index is made up of 50 percent materials, 40 percent wage costs and 10 percent other expenses such as professional fees and consenting.
The annual pace of increase rose to 2.3 percent, but is still below its long-term average of 4.1 percent since 2012.
Cotality chief property economist Kelvin Davidson said the pace of growth was constrained.
"We are certainly not seeing the extreme inflation experienced in the post-Covid phase, when the [index] an
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