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Tommy Honey: Construction Industry Council Executive Director on the impact of the drop in construction costs

Published: July 10, 2024, 8:27 p.m.

Competition in construction is forcing builders to scrape by with low margins. \xa0

Corelogic's Construction Cost Index shows building costs have dropped 1.1% in the three months to June, the first decrease in 12 years. \xa0

It looks at the price of labour, material, plant hire, and subcontract services.\xa0

Construction Industry Council Executive Director Tommy Honey told Andrew Dickens it's pushing subcontractors to tighten their belts. \xa0

He says it's good news for those wanting to build but foreboding for the construction sector.\xa0

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