How Much Does It Cost to Build a House in Perth in 2024?
Building a home can be an exciting but costly endeavour. Understanding the key factors that influence construction expenses can help homeowners make informed decisions. In 2024, building costs have risen due to factors like labor shortages, material costs, and regulatory changes. Let’s explore what you need to know.
Average Cost To Build a House in Perth
Average Build Cost: For those considering building a house in Perth, the estimated build cost of $346,814 may act as a guide. But it’s not uncommon for costs to be as high as $800,000.
Average Land Cost: The Average Median land price in Perth was $267,250. Land prices in Perth vary significantly depending on proximity to the CBD. On average, land may cost between $200,000 and $400,000, though premium suburbs fetch much higher prices.
Total Cost To Build A New House In Perth: Things brings our total average cost to $584,064 to purchase land and build a new house.
Cost To Build Per Square Metre In Perth
It’s hard to get an exact figure, But the average cost to build a home in Perth is $2000-4000 per square metre.
Costs Of Building A Double Storey Home
In 2024, the cost of building a two storey house can vary significantly.
A second storey will cost around $800 per square metre extra compared to a single storey home.
The average cost of building a two storey house in Perth is around $2500 – $4500 per square metre. With a total build cost of $450,000-$600,000
How Does WA Compare To Other States?
WA’s home building costs are generally lower than other states. A study from the ABS in 2020 found that WA was the lowest of all states, we’ve compared this to the building price index to get an estimate for the home building costs in 2024.
These prices are exclusive of the price of land.
State | Price (ABS 2019) |
Price (Estimate 2024)
|
ACT | $440,000 | $512,075 |
SA | $275,000 | $320,047 |
Queensland | $289,000 | $336,340 |
Tasmania | $285,000 | $331,685 |
NSW | $349,000 | $406,169 |
Victoria | $327,000 | $380,565 |
NT | $365,000 | $424,789 |
WA | $298,000 | $346,814 |
How Much Locals Paid
Chatting with Perth locals, we heard some examples of how much their houses cost to build and these might ring true for the average Perth home-builder.
- $340,000 for around 210 sqm in the outer suburbs.
- $270,000 for a 4×2 that’s 150sqm. Siteworks included.
- $280,000 for a 4×2.
- $320,000 for 210sqm. Including site works and medium-grade finishes.
- $430,000 for a 390sqm home. Site works included, as well as painting, air-conditioning and tiled flooring.
- $350,000 for a 4×2 on a 450sqm block.
Key Factors That Influence New Home Costs.
Several factors affect how much you’ll spend when building a house:
- Location and Land Size: Land prices vary significantly depending on the location, especially between urban and rural areas.
- Home Size and Design Complexity: The larger and more complex the design, the higher the construction costs. Custom features like extra rooms, unique facades, or high-end materials can add to the budget.
- Material and Labor Costs: Prices for materials like steel, concrete, and timber fluctuate based on supply and demand, while labor costs rise due to skill shortages in many trades.
- Additional Factors: Site preparation, council approvals, and permits are often overlooked but can contribute significantly to overall costs.
- Quality of Materials and Finishes: Higher-end materials and premium finishes will elevate your budget, so it’s important to balance quality with cost-efficiency.
Hidden Costs in Home Building
Beyond construction, there are other expenses to consider:
- Site Preparation: If your land is uneven or requires clearing, this will add to the cost.
- Landscaping: Don’t forget about outdoor areas like gardens, driveways, and fencing, which can add thousands to your budget.
- Council Fees: Approvals, permits, and compliance with local building regulations can come with additional costs.
New Code Regulations and Their Impact on Costs
Recent updates to building codes, such as energy efficiency and sustainability standards, can increase construction costs but will benefit homeowners in the long run by reducing utility expenses.
Tips for Managing Home Construction Costs
- Work with Experienced Builders: A reliable and experienced builder can help you avoid costly mistakes.
- Negotiate with Suppliers: Prices for materials can fluctuate, so don’t hesitate to negotiate or shop around.
- Build For The Long Term: It may sound counter-intuitive, but building a house that you plan to live in for a long time means your costs over time will diminish – as there’s significant costs in selling, buying, or building again.
- Choose The Right Home For The Block: Choosing a home that suits your block means there’s less need for complex siteworks, and means your get more value for your money. Opt for a two-storey home to maximise your land.