How much does it cost to build a house in 2021?
Ask anyone who lives in Australia what some of their biggest life goals are, and you’ll find that the majority say they want to own property – with a large percentage of those keen to build their own home. The big question when it comes to building a new home is “how much does it cost to build a house?”
The cost of the land
The first thing to consider when calculating how much it costs to build a house in Australia is the price of the land for the house to sit on, which varies hugely from state to state.
According to The Urban Development Institute of Australia’s 2020 State of the Land report, in 2019, Sydney’s median lot price was $459,000, Melbourne’s was $330,000 and Adelaide’s $179,000.
The average cost of land in Sydney was $1209 per sqm, Melbourne $837 per sqm and Adelaide $400 per sqm.
If you’re looking to build a house, you might find these cost increases discouraging.
The cost of building a home.
According to the Melbourne, Australia edition of Riders Digest 2019 and the Australian Bureau of Statistics (ABS), the cost of building a house in Australia can vary wildly.
The average cost to build a house in Australia in 2018 was $1393.55 per sqm. Or $313,800 for a house built. However, depending on its location and other factors, the price of an average-sized house can range from $271,000 to $1,124,550.
At Integrity New Homes we consistently provide high quality new homes at affordable prices. Contact our friendly consultants to find out the cost of your favourite design.
Excluded Building Costs
Some costs may not be included but may be added into your quotation if they are deemed necessary by the builder. These may include:
On-site connection to services
Removal of rock and/or soil
Removal of trees
Another additional council requirements
Keep in mind that you may be eligible for the
First Home Owner Grant (FHOG).
Stamp duty fees discounts
Amid the pandemic some state governments also decided to make temporary changes to stamp duty exemption for first home buyers.
Victoria: The government is offering stamp duty waivers on homes worth up to $1 million bought before 30 June, 2021. Home buyers will save 50% in stamp duty – worth up to $27,500 (on a $1 million property) – for new builds and 25% – worth up to $13,750 – when purchasing existing residential properties.
For more information call us on 1300 886 793 or Contact Us here
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