The ABS Construction Cost Index is proving useful to our members who wish to test the annual uplifts offered by strata insurers for the intervening years between the compulsory valuations.
The bad news is the growing gap between the insurers’ inflated recommendations and our reality.
The good news is that our members are using the Index to save money by avoiding over-insurance.
Contrary to the annual uplifts of 5% being offered by most strata insurers, we are witnessing a sustained flat-lining in construction costs, similar to what we saw in the four years after the 2009 GFC.
We are publishing quarterly updates of the index. You can find the numbers in the table below, together with reference to the analysis of each quarter.
Article discussing data on our website