Property

Building sector: a victim of 'pre-existing conditions'?

Brent Melville
Tue, 08 Feb 2022

Building sector: a victim of 'pre-existing conditions'?

Residential cost inflation is one of the highest in the OECD. (Image: BusinessDesk)

Brent Melville
Tue, 08 Feb 2022

Commercial and residential build cost inflation surged by more than 10% last year in New Zealand, one of the highest levels in the Organisation for Economic Co-operation and Development (OECD) and the biggest spike since before 2008’s global financial crisis.Peter Nunns, director of economics at the NZ Infrastructure Commission, said NZ can look forward to more of the same in the coming years on the back of a rampant construction cycle.Nunns said while covid has certainly had an impact across supply chains and served to push up imported m...

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Building sector: a victim of 'pre-existing conditions'?

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