Building new home costs rise to new highs

The cost of building a home has reached a new record high, and Corelogic say it's likely to get even worse before it gets better. According to its just-released Cordell Construction Cost Index, the cost to build a 200 sqm three-bedroom, two-bathroom single storey brick and tile house went up by 3.4 per cent in the third quarter of this year. And it's nearly 10 per cent more expensive to build than it was a year ago. Joining Nathan Rarere is CoreLogic's chief property economist Kelvin Davidson