Homes in Australia are getting much more expensive to build, with the average cost of erecting a private dwelling soaring by nearly $80,000 (about US$54,000) in the past 12 months.
Through analysing the latest construction data from the Australia Bureau of Statistics, The Epoch Times found that at the national level, it cost about $413,436 on average to build a private house in May, up from $335,812 a year earlier and from $332,248 in February 2020–before the COVID-19 pandemic broke out.
Among the states and territories, New South Wales had the highest average building cost of $457,166 per dwelling, followed by the Northern Territory at $451,364, Victoria at $439,480, and Queensland at $410,126….