Property developers can look forward to a new phase of cost stability after years of sharp increases, new research says.

But, according to Cortality’s Cordell Construction Cost Index, project feasibility remains under pressure due to skilled labour shortages and construction prices that have risen nearly 40 per cent since the pandemic began.

The latest report shows a 2.5 per cent annual growth in construction costs to September 2025, down from 3.2 per cent the previous year.