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

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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





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