Reno, building costs expected to slide

Archicentre, the building advisory service of the Australian Institute of Architects, said that as tradespeople moved from commercial to residential projects as a result of the slowdown in new commercial work, this in turn would increase competition for the new home and renovation sector.

“Custom designed homes and renovations could drop from 5 to 15 per cent in some states," Angus Kell, ACT and NSW state manager of Archicentre said.

“Coupled with the rapidly reducing interest rates we are seeing the best climate for residential construction for many years,” he said.

Written by Staff Reporter

Last Updated: 09 March 2022

Published: 26 March 2009