Houses more expensive to build

Last updated 12:35 19/05/2014

Relevant offers

Money

Kids' lunch trend explodes Kiwi rich listers' wealth tops $50b Property market cooling Adam Parore aims at bankrupting Sally Ridge South African insurer opens doors Westpac wins best-value gong Sovereign revamps health insurance Campaign says savers overtaxed Labour pledges $2 rise in minimum wage to $16.25 KiwiSavers warned on fees

The cost of building homes was up 4.6 per cent in the March year, the biggest increase in six years, with other building costs rising almost as much.

Statistics NZ figures on capital goods costs, released today, shows residential building price index was up 1.1 per cent in the March quarter. The non-residential price index was up 0.8 per cent.

For the year, the capital goods price index for residential building was up 4.6 per cent, while non-residential building costs were up 3.5 per cent.

Overall, the cost of buying new capital items rose 0.6 per cent in the March quarter, mainly driven by higher building costs. That was partly offset by lower transport equipment, with prices falling due to a high New Zealand dollar.

The Capital Goods Price Index measures the change in the purchase price of new capital goods used by producers.

Ad Feedback

- Stuff

Comments

Special offers

Featured Promotions

Sponsored Content