NZCB In The News – 11 July 2024 – The Post

Home building costs drop for the first time

Home building costs have fallen for the first time since the data started to be collected in 2012 .

Residential building costs have fallen for the first time in over a decade, and that’s good news for people wanting to build, and for the Reserve Bank, a property researcher says.

But the cost decline also reflects the downturn in the construction industry, which is one of the country’s biggest employers.

The cost of building a “standard” three-bedroom, two-bathroom, brick-and-tile single-storey home decreased by 1.1% in the three months to June, according to the latest Cordell Construction Cost Index.

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Also published in

Waikato Times 11 July 24

Stuff, NZ 11 July 24

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