Pete Wolfkamp: Newstalk ZB's Resident Builder on house building costs stabilising
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
The cost of building a new home's starting to stabilise.
Figures from QV CostBuilder show the average cost to build a three-bedroom home in main centres has risen by 1.8% for the year, and 0.3% this quarter.
It compares to an annual average increase of nearly 5% last December, and nearly 10% last June.
Newstalk ZB’s Resident Builder Pete Wolfkamp told Mike Hosking that the main difficulty builders were facing over the last years were prices rising after they’d been locked into a fixed term contract.
He said that it puts enormous pressure on projects to keep their costs to a reasonable level, which was incredibly difficult.
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