Westpac warns construction costs could rise $50,000 amid Iran conflict

Westpac warned that construction costs for new homes could rise by 10 percent, or $50,000, due to the ongoing war in Iran. However, the Housing Industry Association reported increases of only $3,000 to $4,000. Fuel levies imposed to offset rising costs may drive further inflation, complicating the economic landscape ahead of the federal budget.

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Summary by Glance · Original reporting by Brisbane Times