Westpac warns new home construction costs could rise by $50,000

Westpac warned that new home construction costs could rise by 10 percent, or $50,000, due to inflation linked to the Iran conflict. In contrast, the Housing Industry Association reported increases of only $3,000 to $4,000. Potential price surges may pressure the Reserve Bank to adopt more aggressive monetary policies as inflation concerns.

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Summary by Glance · Original reporting by The Age