Construction costs in New Zealand rose slowly in 2024, with standard homes up just 1.5%.

Construction costs in New Zealand have risen at their slowest rate since 2015, with a 1.5% increase for standard homes in the year to November 2024. This is a significant drop from previous years, driven by easing inflation, record low interest rates, declining house prices, re-established supply chains, and slower population growth. The cost of non-residential buildings also saw a modest 1.4% increase.

3 months ago
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