Building costs have gone through the roof. 

A new QV CostBuilder survey revealed a significant increase to costs over the last four years. 

It looked at the comparative costs of a standard 150m square home over six main centres, and revealed an average increase of 44%. 

The biggest increases were seen in Palmerston North, Dunedin, and Wellington. 

Blackburn Management’s Mike Blackburn told Andrew Dickens that most of the increase would have occurred during the 2021/22 period when the pandemic was causing problems with the supply chain. 

The good news, he says, is that in the last 12 months, the average cost increase on a square metre basis was on 3% across the entirety of New Zealand. 

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