The Australian Financial Review has identified the soaring cost of Sydney's housing bricks up by a third in just two years. The cities ongoing construction boom has kept the NSW capital one of the world's most expensive cities in which to build.
Sydney's 33.1 per cent leap in the cost of 1000 standard bricks – from $590 in 2015 to $785 this year – was triple the 9.6 per cent gain seen in Melbourne over the same time, where the cost of the same material rose to $570 from $520.
The figures, contained in Turner & Townsend's International Construction Market Survey 2017, also show the clear effect the country's biggest housing boom has had on the market for materials and labour in Australia's largest city. The cost of structural steel has jumped 17.1 per cent over the past two years to $2400 per sq m from $2050 while it has barely budged in other cities. Read the full AFR article here.