The Weekly Real Estate From Coast to Country, October 20, 2022

Real Estate

FROM COAST TO COUNTRY

House building costs rise and rise

By Madeleine Murray

THE HOUSE-building industry has sailed into the perfect storm of disasters.

Everything has conspired to drive costs up exponentially in the past two years which is good news if you are trying to sell an established home.

First, there was COVID when everyone learned the meaning of supply chain.

For months there was no pine in the timber yard, no glue for the tiles, no parts for the pump, or computer chips for the smartphones and laptops.

Then the war in Ukraine (and subsequent price gouging by oil companies who have been raking in record profits), caused the price of fuel to increase drastically, and with it everything that was transported, which is pretty much everything, ultimately.

Floods created a surge in demand for labour and materials.

Catastrophic bushfires caused councils to tighten building regulations in high-risk fire zones. One couple that lives in a highflame area found it would cost

them almost $1.5 million to build a house with double-glazed windows, and double-brick walls.

A local businessman put in a DA 13 months ago, to extend the premises behind his business.

“The DA was approved after 13 months, at the cost of over $120,000. In that time, the building material prices went up exponentially,” he told The Weekly.

“We had a budget of $900,000 about 18 months ago. Now it’s $1.5 million, and rising.

“No builder will accept a fixed price contract these days, they are all cost-plus. But most banks don’t lend to a cost-plus, they want a fixed-price contract.”

“Concrete went up dramatically, steel in some cases had gone up 500 per cent.

“Labour has gone up at least 50 per cent, and it’s so hard to get. Some tilers are charging $1000 a day.”

According to CoreLogic’s Cordell Construction Cost Index, residential construction costs increased by 11 per cent over the 12 months to September.

CoreLogic Construction Cost Estimation Manager John Bennett

Open Homes

Saturday, October 22

First National Open homes

said the Cordell costing team was continuing to see costs rising, especially across timber and metal materials, which was affecting framing and reinforcing.

“In particular we are recording significant volatility in prefabricated framing,” he said.

“The range of products affected by higher building material costs is only growing, with many suppliers having little choice but to pass on price increases.

“This quarter has also shown a larger increase in the cost of wall linings, including plasterboard and fibre cement, which

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McGrath Real Estate

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MANA Real Estate

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18 Dorothy Street, Murwillumbah. Sat 12.30-1.00pm

16 North Head Road, New Brighton. Sat. 12.30-1.00pm

1D Short Street, New Brighton. Sat 9.30am-10.00am

1/3 Halyard Court, Ocean Shores. Sat 10-10.30am

14 Narooma Drive, Ocean Shores. Sat 10.30-11.00am

33/19 Elizabeth Street, Pottsville. Sat 9-9.30am

previously had been relatively stable.

“It will cost you more to get into your house too, with the price of doors showing a sharp rise in the last quarter.”

The spiralling cost of raw materials, labour, and fuel has driven prices up, as have all the indirect effects of the war in the Ukraine.

Even waste disposal fees have risen this year.

All these increases have a flow on effect to the last person in the chain, the person building or renovating a house.

Mr Bennett said the industry is facing significant additional challenges each quarter, with suppliers having dealt with the impact of rising fuel, freight and electricity to their bottom line for more than 18 months.

“A shortage of labour and more expensive overheads continue to have a bearing on the industry,” Mr Bennett said.

“Its impact on the residential construction industry has not been lost with ongoing delays to completion times and a blow out to builders holding costs during a period of market change.”

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Tate Brownlee Real Estate

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4 James Cooks Dr, Banora Point 12:00-12:30pm

35 O ld Ferry Road, Banora Point 1:00-1:30pm

24 Parkes Lane, Terranora 2:00-2:30pm

119 Smiths Creek Road, Smiths Creek. Sat 1.45pm -2.15pm

Auction 14 Narooma Drive, Ocean Shores Sat 22nd after open home

We’re here to connect the property dots

12 Ribbonwood Pl, Terranora 2:30-3:00pm

Combining the character and style of a bygone era with all the conveniences of contemporary living, this charming timber cottage is certainly a surprise package and offers loads of space for quality living and entertaining.

the welcoming front verandah, you’ll discover a stylishly renovated family home offering two living areas upstairs, plus huge under house areas for storage, games area and outdoor entertaining. There’s plenty of space for your children and pet to play safely in the fenced back yard.

the beach and come home to

laidback sophistication in this breathtaking large fourbedroom home in the eco-sanctuary, Koala Beach,

With deluxe, high-end finishes throughout, impressive street appeal, fully landscaped gardens, and skyline ocean glimpses from upstairs, this showstopping home will not be on the market long.

the ultimate blend of characterful charm and

sophistication, this classic 1930’s residence has been extensively renovated and

with Creek Frontage

If you’ve been dreaming of the ideal country haven, where you can retreat and recharge, this well-maintained lifestyle acreage property is certainly worthy of your inspection. There’s plenty of room for children and pets to run around 6614 square metres or approximately 1.63 acres of park-like lawns and gardens, you’ll feel like you’re living on a golf course. With a frontage to pretty Smith’s Creek, the family will enjoy cooling off in their own swimming hole plus you even have a small water cascade to enjoy.

village

Coast’s best kept secret, this attractive brick and

freestanding villa is sure to please those seeking a low

lifestyle. Conveniently located right in the heart of town, you’re just a short, level stroll to the local shops, Mooball Creek and the pristine Pottsville beach.

back, relax and enjoy a quiet cuppa on the front verandah,

entertain your family and friends in the covered patio

the nature reserve at the rear of the property.

pristine

largely

of the Far North Coast, this private 5-acre

business

just 20 minutes south of Murwillumbah and only 30

north of Byron Bay, this attractive acreage property is

for the savvy buyer seeking fresh air and laidback country

combined with an environmentally friendly business.

Set in a quiet cul-de-sac in Banora Point, Clifton Walk is a tightly held Neighbourhood Plan comprising 10 individual homes on freehold, easy care parcels of land serviced by a shared driveway.

The handy location is just around the corner from the thriving Banora Shopping Village, where the tenants include Coles, chemist, medical centre, newsagent, post office and approximately 25 other retailers & service providers.

Twin Towns’ Club Banora is 500 metres from your front door offering a variety of sporting facilities including golf, bowls, tennis courts and pools as well as dining and entertainment options which are all popular with the locals and their families.

• Immaculate presentation throughout

• The spacious and functional low set home has been adapted in some areas to aid people with mobility issues

• Compact, fully enclosed 352 sqm block of land with low maintenance gardens and grounds

• 5 minute drive to Tweed City Shopping Centre

• Easy access to the motorway, Gold Coast Airport, patrolled beaches and all other amenities

• Generous double garage and oodles of storage space

• Choice of 2 covered alfresco areas provide year round and all weather outdoor entertaining options

• A short stroll to the picturesque Lake Kimberley walking circuit where you can enjoy watching the swans, water hens and other birdlife as you wander around the lake

• Ideally suited to down sizers, active retirees or busy professionals

• Genuine vendors are reluctantly selling their home after eleven enjoyable years.

• An inspection will not disappoint.

and motivated to sell!”

Situated in a quiet cul-de-sac in the popular Flametree Park Estate, this substantial low set residence was built approximately 20 years ago by the highly regarded Golden Edge Homes.

The unique position on the estate fronts a wide nature reserve that surrounds Trutes Bay. The owners treat the parkland as their own backyard and as a reward, get to enjoy the bushland outlook and the abundant wildlife. The functional, open plan design has casual, formal and alfresco zones and flows smoothly from space to space, providing numerous options for entertaining family and friends, but also areas to sneak away for a bit of quiet time.

• Immaculate presentation

• Three generous bedrooms plus study

• Large, centrally located kitchen with gas cooktop

• Fully enclosed, low maintenance gardens and grounds with plenty of room for the boat and caravan

• Short stroll to Banora Central shops where the tenancies include Coles, a medical centre and pharmacy

• Flat walk to Juniors Twin Towns, sports fields and primary & secondary schools.

• Many, many extras – solar panels & hot water, air conditioning, vacuum maid system, external sensor lighting, oodles of storage spaces plus lots, lots more

• Top shelf, well established neighbourhood

• The easy care and minimal maintenance of this home will suit busy families seeking more quality time together and will also appeal to grey nomads looking to lock it up, hook up the van and hit the road!