Question
The latest cost data available relates to a residential building in Docklands that was completed at the first quarter of 2016. Past Building Project Cost
The latest cost data available relates to a residential building in Docklands that was completed at the first quarter of 2016.
Past Building Project Cost Docklands @ 1st Quarter 2016 Price
Total Cost $6,300,000
GFA 3000 m2
Proposed New Building North Melbourne
- GFA 3500 m2
Key Dates of New Building - North Melbourne:
- Tender Date: 15th July 2018
TENDER PRICE INDEX IN MELBOURNE*
*Not real market figure. To be referenced for educational purpose only.
2013
- 1st quarter 194.24
- 2nd quarter 196.18
- 3rd quarter 197.15
- 4th quarter 198.12
2014
- 1st quarter 198.62
- 2nd quarter 200.10
- 3rd quarter 201.09
- 4th quarter 201.59
2015
- 1st quarter 203.61
- 2nd quarter 204.61
- 3rd quarter 205.02
- 4th quarter 205.42
2016
- 1st quarter 207.47
- 2nd quarter 208.50
- 3rd quarter 209.53
- 4th quarter 210.56
Using the set of information on key dates of the new project in North Melbourne and Tender Price Index information above, compute the price of the project at the tender date.
Please provide a step by step detailed explanation
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