The cost of building a new home's starting to stabilise.

Figures from QV CostBuilder show the average cost to build a three-bedroom home in main centres has risen by 1.8% for the year, and 0.3% this quarter. 

It compares to an annual average increase of nearly 5% last December, and nearly 10% last June.

Newstalk ZB’s Resident Builder Pete Wolfkamp told Mike Hosking that the main difficulty builders were facing over the last years were prices rising after they’d been locked into a fixed term contract.

He said that it puts enormous pressure on projects to keep their costs to a reasonable level, which was incredibly difficult.

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The cost of building a new home's starting to stabilise. 
Figures from QV CostBuilder show the average cost to build a three-bedroom home in main centres has risen by 1.8% for the year, and 0.3% this quarter.  
It compares to an annual average increase of nearly 5% last December, and nearly 10% last June. 
Newstalk ZB’s Resident Builder Pete Wolfkamp told Mike Hosking that the main difficulty builders were facing over the last years were prices rising after they’d been locked into a fixed term contract. 
He said that it puts enormous pressure on projects to keep their costs to a reasonable level, which was incredibly difficult. 
LISTEN ABOVE

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.

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.

Early Edition with Ryan Bridge

Pete Wolfkamp: Newstalk ZB's Resident Builder on house building costs stabilising

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3b9cecdf-dce9-476f-b688-b18b0177fd93/transcript