Houses more expensive to build

Last updated 12:35 19/05/2014

Relevant offers

Money

Retirement: Three stages, many choices to make How Pricemaker can get you the best deal Real estate auctions: Bidding for victory Debunking the child poverty myths Face value: Newmarket shops boss Mark Knoff-Thomas isn't into material things NZ hands tied on foreign home buyers under Korea FTA "bungle" Research drive splits opinion Social media ban for departing workers plan Secret report: Traders are continuing to find new ways to mislead consumers Snapper will no longer be accepted in shops and cafes

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