'Perfect storm' continues to drive building costs

'Perfect storm' continues to drive building costs
Terrace and multi-unit housing is helping push up construction costs. (Image: BusinessDesk)
Brent Melville
Construction cost inflation levelled out slightly to 1.6% over the past quarter under covid lockdowns but is still tracking well above the long term norm, the latest CoreLogic Cordell construction data shows.The Cordell Construction Index for the quarter to September shows cost rises are continuing across labour, material, plant hire and subcontracting in the wake of record housing consents and building material shortages. The latest cost increase is down from the 2.2% rise in the prior quarter, but it’s double the typical quarterly...

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