Build inflation slows to 4.9%, but fewer consents

Fewer new homes are in the pipeline. (Image: BusinessDesk)

Thu, 30 Nov 2023

The average build cost of a typical urban home increased by 4.9% for the 12 months to November, less than half last year's build inflation rate.This compares with last year's average annual increase of 11.3% and 14.7% for the November 2021 year, according to data from Quotable Value (QV).The QV construction cost indicator is based on 42,000 rates across a standard three-bedroom home.QV spokesperson Martin Bisset said construction costs had stabilised through the second half of the year – showing a modest 0.4% average increase...

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