Construction costs edge up to ‘concerning’ levels: economist
Plumbing products led the way to a 2.3% increase in overall construction costs last year, tracking residential consents which have started climbing back up the ladder.
Building material costs remain elevated despite the cooling growth cycle during the past two years.
Construction costs ratcheted up by 2.3% last year, on a fourth-quarter increase of 0.9%, closing in on the long-term average, according to the latest Cordell construction cost index.
While that's still well below the rapid inflation experienced in the aftermath of the Covid pandemic, which peaked at
