Residential construction costs have increased at a record annual rate, according to the CoreLogic Cordell Construction Cost Index. Home building costs in the September quarter were 11.0% higher than the year before. That was a sharp increase on the 10.0% increase in the June quarter and also higher than the previous record of 10.2% from … Read more
Rental rates increased by a record 10.0% in the year to September, following an identical rise in August, according to CoreLogic. The sharp increase in demand corresponds with a significant reduction in supply, with the number of for-rent properties in September 35.4% below the previous five-year average. And PropTrack economist Angus Moore has forecast that … Read more
Worsening extreme weather is leading to a rapid increase in insurance premiums and even an insurability crisis, according to a report by the Climate Council. The biggest insurance risk is expected to come from riverine flooding, followed by bushfires and surface-water flooding. “As the risk of being affected by extreme weather events is increasing, insurers … Read more
