What is the Average Cost of Building a New Double Storey House in Sydney?

As families across Australia grow and land is quickly picked up by developers, the only way is up. Two storey homes are a great solution for increasing space without taking up more land. If you do not want to build new, why not add a second level to create a double-storey house? Today, the builders at Managed Build share their expertise on 2 storey homes and their average costs.

Learn about the top four factors that will influence the final price of your new home below.

What is the Average Cost of Building a New Double Storey House?

Our Builders Share Their Expertise on Construction Costs

We wish the answer were as straightforward as the question! According to recent statistics, the average cost for building a new house in NSW ranges from $392,490 to $1,124,550(*1). Costs in particular locations may be more or less depending on the size of the home, materials used and timeline.

Why Have Residential Construction Prices Increased?

Construction materials have increased in price significantly(*2). This has contributed to the 59.5%(*3) increase in building costs over the past 15 years. It is expected that the higher-than-normal material costs will continue throughout 2021 and into 2022.

4 Things That Will Impact the Cost of Your New Two Storey Home

Many factors go into the price of building a new double-storey house. Let’s take a look at the main things that influence the price for a new build:

1. Location.
2. Time.
3. Materials.
4. Size.

1. Location

Sydney has some gorgeous locations – each with its own individual characteristics. The soil type and quality, proximity to a neighbouring building and accessibility influence costs.

If any of these (soil, proximity and accessibility) are major factors, the site may require additional foundation works or a different subfloor(*4). When building in one of Sydney’s laneways or a built-up area, extra machinery such as cranes may also be needed.

2. Time

As they say, time is money. Time plays a crucial role in pricing a new build particularly if the building site is difficult to access.

According to the Australian Bureau of Statistics, the average home takes around seven months to build(*5). Should you have a tight deadline, tradespeople may need to work overtime which will cost more.

3. Materials

Australia is facing a huge demand for construction materials. As a result, many project managers have had to re-do schedules to reduce the impact on logistics and tradespeople. In addition to managing supply delays, the cost of materials has increased(*2).

It is wise to discuss alternative material options and how designs may be altered to be more affordable with your builder.

Learn more about the supply shortage affecting Australian construction sites here.

4. Size

The size of your house will influence how much framing and materials will be required. Framing is one of the most expensive aspects of new construction(*6). Be sure to talk to your builder about how the plan may be altered to achieve your design and budget goals.

At Managed Build, we work with our clients to achieve both quality and budget. We would love to hear from you to discuss your new two storey home build!

Call 0414 499 422, email info@managedbuild.com.au or send us a message online.

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With our support, you can choose the right home extensions for your house in Coogee. We would help you select the right products with correct textures and aesthetic features for you home. Our collaborative teamwork will provide an exemplar reflection of your personal taste with quality and perfection

References

*1. Budget Direct. The Cost to Build a House in 2019. 2021.
*2. Core Logic. Cordell Housing Index Price (CHIP). 2021.
*3. Australian Bureau of Statistics. Characteristics of New Residential Dwellings - A 15 Year Summary. 2020.
*4. Build. Building on Reactive Soil Sites. Connection Magazines. 2021.
*5. Australian bureau of Statistics. Average Dwelling Completion Times. 2019.
*6. Sweebe Architecture. The Top 5 Expenses When it Comes to the Cost of Building a House. 2017.