Construction costs rising at a slower pace

(Image: Getty)

Tue, 25 Jul 2023

The average cost of building a home in New Zealand’s main centres is up 9.5% in the 12 months to June 30, but price rises have slowed in 2023, according to QV CostBuilder.More than 51,000 rates were updated in June, with the average cost of building a standard three-bedroom home increasing by 9.5% in the year, data from the construction cost database showed.This compares to a 20.9% annual increase a year earlier. “Though construction costs continue to rise, they have definitely slowed throughout the first six months o...

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