What Does It Cost To Build A House In Australia In 2024?


Building a house in Australia in 2024 can be a significant investment, with costs varying greatly depending on factors such as location, size, materials, and design. Here’s an overview of the average costs and key considerations:

Average Cost Per Square Metre

  • The general price range for building a house in Australia is approximately $1,800 to $3,000 per square metre in 2024[1][4][10].
  • However, costs can range from as low as $1,300/m2 for a basic 3-bedroom house using budget materials, up to $3,900+/m2 for a high-end, architecturally designed house[4][17].
  • These figures are just estimates, as the final cost depends heavily on the specific choices and requirements of each build[1].

Average Total Cost

  • Based on the average Australian house size of around 235 m2, the total cost to build a new house in 2024 ranges from approximately $300,000 to $600,000 on average[1][10][12].
  • The national average cost is estimated to be $330,000 to $480,000, but this varies significantly by location[1][10].

Cost Variations by Location

  • Sydney and Melbourne tend to have the highest construction costs, while regional areas are generally cheaper[1][4][10].
  • Queensland and Tasmania have some of the lowest average costs, ranging from $280,000-$400,000 and $250,000-$400,000 respectively for an average-sized house[10][12].
  • Perth currently has the lowest cost per square metre at $1,400 to $2,700/m2[4].

Factors Impacting Cost

  • Location, including land costs, is a major factor. Building in urban areas is more expensive than regional areas[2][10][14].
  • House size and design complexity significantly impact cost. Larger and more intricate designs are pricier[2][10][14].
  • Quality of materials and finishes chosen is a key variable. High-end options increase costs[2][10][14].
  • Hiring an experienced builder vs an owner-builder approach affects cost[1][10].
  • Site conditions like slope, soil, and accessibility influence expenses[10][14].

Other Considerations

  • Additional costs like site preparation, permits, utility connections, landscaping, and driveways must be budgeted for separately[10][14].
  • Construction timeframes are often 6-12 months but can be impacted by weather, material and labor shortages[6][12].
  • Prices for materials like timber, steel and concrete have risen sharply in recent years and may continue to put pressure on building costs[7][8][13].

Conclusion

In summary, the cost to build a house in Australia varies dramatically based on size, location, materials and other factors, but expect to pay somewhere between $1,300 and $3,900+ per square metre. The average total cost is $330,000 to $480,000 for a standard single-storey house in 2024, but this could be much higher or lower depending on your specific requirements and location. Careful budgeting, planning and professional advice are essential when embarking on a house build.

Citations:
[1] https://ppl-ai-file-upload.s3.amazonaws.com/web/direct-files/248047/d2ef4f17-b225-4e9a-a541-9f4f96dd4f82/paste.txt
[2] https://www.homeloanexperts.com.au/home-loan-articles/how-much-does-it-cost-to-build-a-house/
[3] https://soho.com.au/articles/will-building-costs-go-down-in-2024
[4] https://hipages.com.au/article/building_cost_per_square_metre
[5] https://www.rlb.com/oceania/insight/australia-report-q4-2023/
[6] https://builtgrid.com/blog/how-much-to-build-a-house-in-australia/
[7] https://www.altusgroup.com/insights/australian-construction-material-price-outlook/
[8] https://www.afr.com/property/residential/home-builders-face-an-extra-cost-burden-this-year-20231212-p5er12
[9] https://www.linkedin.com/pulse/navigating-2024-key-impactors-shaping-future-australian-1pkmc?trk=article-ssr-frontend-pulse_more-articles_related-content-card
[10] https://propertyupdate.com.au/how-much-on-average-does-it-cost-to-build-a-house/
[11] https://www.corelogic.com.au/news-research/news/2024/construction-cost-growth-returns-to-trend
[12] https://soho.com.au/articles/average-price-for-building-a-house
[13] https://hia.com.au/our-industry/newsroom/economic-research-and-forecasting/2023/07/supply-chains-unfurl-home-building-materials-inflation-plummets
[14] https://duotax.com.au/insights/cost-to-build/
[15] https://thepropertytribune.com.au/market-insights/building-a-new-home-in-australia-remains-more-expensive-than-buying-one-a-trend-that-will-likely-follow-into-2024/
[16] https://www.abc.net.au/news/2024-01-30/master-builders-queensland-material-price-hikes-february/103389768
[17] https://hipages.com.au/article/cost_to_build_a_house_in_australia
[18] https://www.bmtqs.com.au/construction-cost-table
[19] https://www.yellowpages.com.au/articles/builders-and-building-contractors/how-much-does-it-cost-to-build-a-house
[20] https://soho.com.au/articles/cost-of-building-a-house-in-brisbane

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