'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...

More Economy

ANZ survey: ‘The worst will soon be past’
Economy

ANZ survey: ‘The worst will soon be past’

ANZ-Roy Morgan's survey shows that consumer confidence bounced back from recessionary lows in July.“It’s still very low but has clawed back about half the March-April fall that coincided with ‘recession’ headlines. The lift was driven by improving expectations rather than the...

Staff reporters 26 Jul 2024
The kiwi dollar is falling prey to the bears
Economy

The kiwi dollar is falling prey to the bears

The only worst performer is the Norwegian krone.

Rebecca Howard 26 Jul 2024
Holidays Act: no vacation for taxpayers
Economy In-depth

Holidays Act: no vacation for taxpayers

Let's pay billions of dollars and get nothing new for it.

Nikitin Sallee 25 Jul 2024
Recession worries? Blame China's economic flu
Economy

Recession worries? Blame China's economic flu

Treasury's chief economic adviser says China's economic woes are being felt in NZ.

Dileepa Fonseka 25 Jul 2024