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Building cost hikes no deterrent to buyers

Rising building costs nationally have done nothing to stem demand for newly constructed homes, with generous stimulus packages surpassing any increase in the price of building materials.

Houses being built
Stimulus measures have outweighed rising construction costs. Photo: Shutterstock

Rising building costs nationally have done nothing to stem demand for newly constructed homes, with generous stimulus packages surpassing any increase in the price of building materials.

Dwelling approvals rose 15.4 per cent in September, according to figures released by the Australian Bureau of Statistics this week. 

This was despite house building costs increasing marginally over the September quarter, albeit with the rate of growth sharply l…