Once again median house prices for June 2016 have increased 11% nationwide compared to June 2015.
The sale of million dollar homes increased by 1/3 compared to June 2015 while sales of homes under 400k dropped by 6.1 per cent.
Available Properties for sale fell by 40% compared with June 2015.
This is also having an affect on tradesman as there is still a huge shortage of skilled staff to meet demand which in turn has increased rates being charged by tradesman and the cost of building in general.
This is not what the consumer will want to hear yet the amount of work on offer shows no sign of slowing down meaning the cost of building will continue to increase whether the consumer or the government like it so if your holding off doing work because of cost our advice is don,t as it will get worse.
If you are considering doing a renovation or building a new home we advise you not to procrastinate and get the tradesmen in and booked as quickly as you can.
Already numerous building companies are booked up to 2 years in advance and finding good quality staff is still a major battle for employers.
New health and safety regulations and requirements are also adding to the cost of building as companies must make sure they are adequately covered in the event of a accident onsite.
The public need to be aware of these changes and risks building contractors take by not having their systems in place which in turn is added to the cost of each job and the knock on effect is the clients get higher quotations for works required.
The fines that building contractors and tradesmen can receive for non compliance are just not worth the risk so its just not immigration pushing up house prices and building costs its a number of combined factors.
Please click onto the attached article to read more about the latest increases.