Australian construction costs in the September quarter jumped at its highest rate in over 20 years, as the industry struggles with supply chain disruptions, material shortages, and high demand for building and renovation services. CoreLogic’s Cordell construction cost index found that residential construction costs rose 3.8 percent nationally during the three months to September, which was over four times higher and a major driver of the 0.8 percent rise in CPI during the same period. This was the highest quarterly increase since the introduction of the GST tax in 2000 when construction prices exploded by 7.2 percent over the quarter. Costs increased by 7.1 percent over the year, the highest annual jump since 2005. CoreLogic research director Tim Lawless said increased construction activity coincided with a disruption to supply chains, placing further strain on an industry that was already dealing with severe material shortages, particularly for timber. “The quarterly rate …