How much has construction cost inflated in new zealand?

According to a new report, an anticipated drop in the number of new housing authorizations could soon ease pressure on New Zealand's troubled residential construction industry. If so, the net result of continued increases in construction costs, albeit at a slower pace, would be greater pressure on the profit margins of construction companies, he said. He noted that concession volumes for new housing are likely to decline even more, as workload and construction costs will continue to moderate over the next two to three years.

New Zealand's construction

cost database, powered by the state-owned company Quotable Value (QV), showed that the average cost of building a standard three-bedroom house increased 9.5% in one year, even 3.8% since its last major update in December.

An incipient drop in the number of new housing authorizations could soon help ease pressure on New Zealand's residential construction sector, which has been dealing with rapidly rising costs for more than 12 months. New Zealand's residential construction sector continues to weaken due to the decline in building permits and the workload to build new homes, further reducing pressures on costs.