New estimates show building capacity constraints in southeast Queensland will keep construction price growth at the nation’s highest for half a decade.
South-east Queensland will suffer the country’s highest building cost inflation for the next four years, even as the residential sector weakens, as a large volume of public projects increases the demands on an already constrained labour force, new RLB forecasts reveal.
Residential construction in southeast Queensland is slowing, but building inflation is still the country’s highest.Brisbane faces 5.1 per cent growth every year though to 2027, putting inflation in both Queensland regions above Melbourne, where prices will rise 5 per cent this year and then flatten out at 3.5 per cent. It is also above Sydney, which will rise 3.9 per cent this year and then 3.5 per cent every year to 2027.
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