Depreciation / building cost - approx escalation over 10 years

[Trogdor]

If I have an approx idea for what it would cost to replace a house today, any rule of thumb as to what the cost would have been to build c. 10 years ago (to esimate the 2.5% capital works depreciation applicable to a c. 10 year old property). I.e. divide by X, what would X be approx?

Its Melb inner/mid bayside.

Thanks.

 

[DaveM]

Here you go, 20 year history of home construction costs from the ABS

http://www.abs.gov.au/AUSSTATS/[email protected]&prodno=8752.0&issue=Dec 2008&num=&view=

 

[Trogdor]

Here you go, 20 year history of home construction costs from the ABS

http://www.abs.gov.au/AUSSTATS/[email protected]&prodno=8752.0&issue=Dec 2008&num=&view=

Thanks Dave. Very helpful.

So about 5 ish % p.a. for Vic if you try and strip out "increasing house size" factor - i.e. 1.60x multiplier over last 10 years.