Building a home isn’t cheap, and the cost of an average home is now estimated to rise by about $4,500 per person, to $17,000.
What to do?
If you want to build in a certain area, you need to be able to get an estimate from a builder.
The building industry is divided into different areas, with the industry accounting for around 40 per cent of the overall Australian construction sector.
The industry has been in a state of flux for the last five years, as the cost-cutting measures implemented by the Coalition government have resulted in higher costs for both builders and consumers.
There is an ongoing debate about the best way to build houses in Australia, with a range of different strategies being offered.
There are options for those who want a cheaper house, or a house that is more resilient.
But where does the money go?
A big question is how much will go into the building industry to make a house affordable for all Australians.
According to a recent report by the Australia Council for National and Community Service (ACNS) – a think-tank that supports the industry – the current market value of all new houses in NSW is $1.5 billion, and a third of that is expected to be spent on construction.
This means the average Australian household will spend $1,721 per year in the next decade on housing.
The report also found that the cost to build a new house will increase by up to 6 per cent in 2040, compared to what it would have been in 2010.
The government has promised to boost the cost and supply of housing in the state, which could impact on the demand for housing, especially for young people.
It is estimated that a third (34 per cent) of all young people living in the Sydney metropolitan area will need to move out of their current area by 2040.
The state’s new housing strategy could make housing unaffordable for many young people The report estimated that there will be a need for $1 billion in additional government funding over the next 10 years to build housing that is affordable to all.
It also found a shortfall of $200 million per year for the construction industry.
If that funding is not secured, the cost for building a new home will rise, meaning that the average household will have to spend $17 more a year.
There could also be an increase in demand for other forms of housing, particularly in the north of NSW, particularly for young families.
However, the report suggested that a significant amount of the new funding could come from the state government.
The new government would be required to provide the first $250 million in funding for new housing, but there was also a provision to allocate another $300 million to support the construction of housing for people aged 20-24 years old, and for families in retirement aged 65 and over.
However there was a clause that states that the Government could not allocate more than $300 per household per year.
The current government has not announced which housing projects they are supporting or how much of the funding will go to them.
The ABC understands that the state has been given a budget of $100 million, which is more than it has ever received in its entire history, and that the $200m is part of a wider plan to build more affordable housing.
This is not the first time the state of NSW has faced pressure to increase the affordable housing stock, and has previously cut funding for other areas of the state.
In 2014, the state announced that it was cutting funding for projects in a number of areas.
In February this year, the Government announced that they were going to start cutting funding to the NSW Regional Housing Network (NRHN), which provides rental support for families living in regional areas.
It was the first budget to be cut by the Government in six years.
However the changes are temporary and will be phased in over a five-year period, with some projects set to be funded for the first four years.
The National Housing Network is also set to have its funding cut, with funding for the NRHN ending in 2020.
This includes projects that help people with disabilities, people with learning difficulties, or people with physical disabilities, and includes projects to assist people with mental health and substance use problems.