Steel and concrete price spike

A SPIKE in the price of steel and concrete is more bad news for Central Queensland homebuyers.

Affordable Quality Homes owner Scott Kilpatrick yesterday said this was affecting buyers significantly.

“It’s an issue that has had a very dramatic effect with housing affordability, and with increases in such materials like steel and concrete, even though it may only be 5% or 10% increase, it affects things like labour which then have to follow suit with the price increase,” Mr Kilpatrick said.

“This will therefore result in a much higher price for the homebuyer in a short period of time.”

Numerous concrete and steel businesses in the Rockhampton area say a rise in the cost of materials has resulted in higher construction prices.

Although none wished to be named yesterday, one concreting business said “ridiculous” fuel prices had caused concrete to go up because of the cost of transport.

A local steel business said there had been increases this year in certain steel materials.

At the start of April there was an 18% increase in price for tubular steel.

At the beginning of Feburary, prices of beams and steel plates increased from 8% to 13% for this particular business.

Mr Kilpatrick said it was not good for first homebuyers.

“The big monopolies like steel and concrete companies create a chain reaction which therefore raises the price of everything else, which is really bad news for first home buyers and Central Queensland investors,” he said

Blue Ribbon Construction Rockhampton owner Brad Turner said steel and concrete were the two main materials that affected the price of building a home.



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