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House construction costs in New Zealand grew slowly in 2024, with a 1.1% annual increase.
The cost of building a house in New Zealand has seen slower growth, with the annual increase for a standard three-bedroom house falling to 1.1% in 2024, down from 2.4% in 2023 and 10.4% in 2022.
CoreLogic's Cordell Construction Cost Index (CCCI) attributes the slowdown to resolved COVID-related supply chain issues and fewer new dwellings being built.
Despite this, CoreLogic economist Kelvin Davidson expects construction conditions to improve in 2025 as mortgage rates drop, but cost growth will likely remain controlled.
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Los costes de construcción de viviendas en Nueva Zelanda crecieron lentamente en 2024, con un aumento anual del 1,1%.