The “new normal” in construction costs is set to continue, but as major infrastructure projects wrap up, there could be some light at the end of the tunnel for builder availability. 

Property and construction advisory firm Slattery predicted in its national market update that construction escalation rates would rise by an average 4 to 6 per cent into 2025. 

“For the next three to four years we should expect that to continue, and nationally I expect escalation to be in that range,” Slattery NSW executive director Liam Manning said.