The 50 cheapest suburbs to build a house in have been uncovered, where Aussies have the best chance of weathering a 57 per cent rise in building costs since the pandemic.
Five years worth of building data from five states analysed by Openlot.com.au found which areas were currently delivering the cheapest houses, naming 10 suburbs in each of the states involved – with the cheapest in Queensland and most expensive in Victoria.
There has been a 57 per cent rise in the cost of building a house since the pandemic.
The cheapest place to build a house across Queensland, New South Wales, Victoria, South Australia, and Western Australia was Southern Moreton Bay Islands in Greater Brisbane at $230,661 followed by SA’s Smithfield -Elizabeth North at $270,238 and surprisingly Griffth in NSW at $276,649.
SCROLL DOWN FOR 10 CHEAPEST BY STATE
Openlot.comau CEO Qi Chen said “there is an immense spread in house build costs between the most expensive and least expensive locations in each state. Across Australia as a whole, the range is even greater”.
The research looked at just the house building cost not the land.
“Australia’s most expensive average new house build cost is in Point Nepean, Victoria. Point Nepean’s $1,219,221 is more than five times more than the $230,661 average build cost in Australia’s least expensive location, Southern Moreton Bay Islands, in Queensland.”
Among the shock findings was the higher prices that those who build in the regions pay compared to the capitals, with Mr Qi saying “in both Queensland and Western Australia, we see what we call a ‘regional premium’.”
“In both states, consumers outside of the capital city spend more to build their homes than are people in the capital city of the same state. At the same time, the spending has also been increasing more quickly than in the capital cities.”
There are higher costs to build in the regions than the capital for Queensland and Western Australia while in other states it was lower.
In Queensland it was a shocking $73,827 higher to build in the regions than the capital followed by WA’s $30,668. It was $53,452 cheaper to build in the regions in NSW compared to Sydney, $32,004 cheaper in Victoria’s regions compared to Melbourne and $17,897 cheaper in regional SA than Adelaide.
Mr Qi said homeowners were not just being led by price but choosing to spend more on builds if the suburb allowed it.
“Australians tend to spend up to about the average house value in their suburb when they build a new home”.
The 50 cheapest suburbs to build a house in have been revealed.
“On average, Australians typically spend 40 to 50 per cent of their total property price on the building costs for a single-storey home and 50 to 60 per cent for two-storey homes.”
He said “homeowners aren’t just victims of higher prices. They are also proactively choosing to spend more. Part of the increase comes from materials and labour cost inflation, and the rest from people being willing to spend more on construction due to the home price boom of the past few years. When house prices go up in a suburb, people are willing to spend more to build a new house there.”
10 CHEAPEST PLACES FOR NEW HOUSE BUILDING BY STATE
1 Griffith (NSW) $276,649
2 South West Rocks $281,525
3 Cessnock $301,703
4 Stockton – Fullerton Cove $323,992
5 Maclean – Yamba – Iluka $326,089
6 Forster $340,911
7 Morisset – Cooranbong $345,343
8 Bradbury – Wedderburn $360,756
9 Mudgee $371,225
10 Rutherford (North) – Aberglasslyn $387,294
1 Cranbourne East – South $306,236
2 Charlemont $316,913
3 Wyndham Vale – North $330,392
4 Delacombe $332,481
5 Melton South – Weir Views $336,248
6 Cobblebank – Strathtulloh $338,196
7 Diggers Rest $342,614
8 Whittlesea $344,822
9 Tarneit – North $345,996
10 Wallan $348,244
1 Camillo – Champion Lakes $287,151
2 Ellenbrook $312,581
3 Baldivis – North $326,189
4 Brabham – Henley Brook $326,880
5 Wellard (West) – Bertram $333,033
6 Success – Hammond Park $340,673
7 Baldivis – South $342,307
8 Wanneroo – Sinagra $342,863
9 Casuarina – Wandi $343,610
10 Beechboro $343,751
1 Southern Moreton Bay Islands $230,661
2 Deception Bay $312,271
3 Logan Village $324,513
4 Chambers Flat – Logan Reserve $325,944
5 Bellbird Park $339,264
6 Burpengary $339,937
7 Morayfield $347,993
8 Caboolture – South $348,245
9 Redbank Plains $349,239
10 Narangba $352,557
1 Smithfield – Elizabeth North $270,238
2 Davoren Park $282,102
3 Gawler – South $294,016
4 Ingle Farm $294,267
5 Hope Valley – Modbury $297,728
6 Munno Para West – Angle Vale $314,604
7 Virginia – Waterloo Corner $329,706
8 Murray Bridge $329,822
9 Seaford – Seaford Meadows $335,986
10 Lewiston – Two Wells $338,736
(Source: Openlot.com.au/ABS)
English (US) · 