Colossal rate hikes are looming for homeowners as councils contend with rising construction and insurance costs. 

Local Government New Zealand says rates around the country will rise by an average of 15%.

It says the main factor contributing to the rates escalation is the costs of civil construction. 

Vice President Campbell Barry told Mike Hosking that these costs are 20% higher now than predicted, and that’s on top of inflation. 

He says bridges have gone up around 36% over the last three years, and similar increases are seen with roads and water networks.

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Colossal rate hikes are looming for homeowners as councils contend with rising construction and insurance costs.  
Local Government New Zealand says rates around the country will rise by an average of 15%.
It says the main factor contributing to the rates escalation is the costs of civil construction.  
Vice President Campbell Barry told Mike Hosking that these costs are 20% higher now than predicted, and that’s on top of inflation.  
He says bridges have gone up around 36% over the last three years, and similar increases are seen with roads and water networks. 
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A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.