Quotable Value Ltd said today the average cost of building a new home in New Zealand’s 4 largest cities had risen on average by 3.5% in the year to May, and by 25.5% since the previous price peak of 2007.
New homes, public sector buildings and the Auckland economy kept the construction sector bubbling in the June quarter, as activity in Christchurch continued to slow.
Colliers research director Chris Dibble says in his latest report, out on Friday, that demand outweighing supply in a low interest rate environment isn’t the only reason rents & capital costs are expected to continue appreciating.
An Australian academic report says taxpayers are ultimately footing the bill for tens of millions of dollars/year on tendering processes that don’t represent value for their money.
The Commerce Commission said today it had completed its investigation into allegations that Fletcher Building Ltd subsidiary Winstone Wallboards Ltd acted anti-competitively to maintain its market position in the manufacture & supply of plasterboard.
The Government has followed up its May issues paper on the residential construction sector with an options paper proposing increased transparency, simplified compliance, changes to anti-dumping duties and tariff concessions to bring down the cost of home building materials.