Cost of building a home in Wellington up 2.1% in a year

We strive to keep Wellington property owners up to date with the latest property information.

Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.


 

Press Release – QV Valuations
The latest QV costbuilder report shows the average cost of building a new home in six of New Zealand’s main centres rose on average by 2.7% in the year to October 2017 and has risen 27.4% since the previous peak of 2007.

This is faster than the annual rise of 2.1% in the year to October 2016, but slower than the annual rise of 3.5% seen in the year to May 2017.

It also shows the average cost of building a standard 140m², three bedroom, one bathroom home increased by the most in Wellington and Hamilton over the past year, up 2.1% to an average cost of $261,265 in both regions. In comparison, Palmerston North costs increased 1.7% to $257,250; Auckland costs rose 1.6% to $275,625; Dunedin costs increased 1.4% to $255,500; and Christchurch where costs rose by the lowest amount over the past year, 1.3% to $279,125.

QV costbuilder Spokesperson Greg Thompson said, “While building costs continue to rise, they are now rising at a slower rate than earlier this year which is likely caused by a slowing in the Christchurch region.”

“Auckland and Christchurch still remain the most………..

Continue reading this article at the original source from Scoop Wellington

 

 

 

 

Own property in Wellington? Get our Free Halina Sells Houses e-Newsletter HERE

2017-12-19T11:32:05+00:00