Price pain for developers as construction inflation hits 7.3%

Materials supply chain stretched and prices headed up. (Image: BusinessDesk)

Wed, 20 Apr 2022

New Zealand's construction inflation accelerated another 2.4% for the first three months of this year, pushing the annual price increase to an all-time high of 7.3% on the back of surging timber, structural products and metal prices.That surpasses the prior annual peak, as measured by the Cordell Construction Cost Index, of 6.9% recorded in the December quarter of 2017. The inflationary measure reflects the rate of change in construction costs within the residential market and covers freestanding and semi-detached single and double-sto...

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