CoreLogic predicts building industry slowdown

Construction costs increased by 1.7% in the December 2022 quarter. (Image: NZME)

Tue, 10 Jan 2023

Residential construction costs grew by a record-breaking 10.4% in 2022, despite signs of a slowdown in the year’s final quarter.CoreLogic's Cordell Construction Cost Index (CCCI) showed annual building costs broke the previous record of 9.6% in the year to September.However, construction costs increased by only 1.7% in the December 2022 quarter, compared with a 3.4% increase in Q3.The figures are based on a 200 sq metre concrete slab, brick veneer, concrete tile roof house.CoreLogic chief property economist Kelvin Davidson said a surg...

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