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Aerial phtograph of several houses being constructed
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An all-time high in building approvals is translating into heightened levels of construction activity, and costs are rising fast. Photo: Shutterstock

Construction costs rising at a near record-setting rate

Construction costs are rising at their fastest rate since the introduction of the GST, with supply chain disruptions causing a shortage of building materials as new builds and renovations activity soars.

Data released by CoreLogic showed construction costs increased 3.8 per cent nationally in the S…

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