The increase in construction costs in New Zealand, has dropped below long-term averages
The increase in construction costs in New Zealand, has dropped below long-term averages
9 April 2024
The quarterly Cordell Construction Cost Index is a division of CoreLogic.
The latest has recorded a 0.5 percent increase in the first quarter of the year - less than half of the long-term quarterly average of 1.1 percent.
CoreLogic chief property economist Kelvin Davidson says supply chains have normalised and house-building activity has pulled back.
He says although it's not getting cheaper - it's not rising quickly either - and there's a bit more certainty to the market.
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