CoreLogic predicts building industry slowdown

CoreLogic predicts building industry slowdown

Construction costs increased by 1.7% in the December 2022 quarter. (Image: NZME)

Greg Hurrell

Tue, 10 Jan 2023

Residential construction costs grew by a record-breaking 10.4% in 2022, despite signs of a slowdown in the year’s final quarter.CoreLogic's Cordell Construction Cost Index (CCCI) showed annual building costs broke the previous record of 9.6% in the year to September.However, construction costs increased by only 1.7% in the December 2022 quarter, compared with a 3.4% increase in Q3.The figures are based on a 200 sq metre concrete slab, brick veneer, concrete tile roof house.CoreLogic chief property economist Kelvin Davidson said a surg...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Credit Card

Cardholder's name

Yearly - (Save $179 compared to monthly) $349.00

Monthly $44.00

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

Forsyth Barr upbeat on Tower

Markets

Forsyth Barr upbeat on Tower

The company reports in May.

Victoria Young 5:00am

Law & Regulation

Bronwyn Heenan: H&S reform back with a vengeance

With all these changes, let's watch this space and wait for the details.

Bronwyn Heenan 5:00am

H&S reform back with a vengeance

Economy

Trump’s tariffs may spur a more dovish RBNZ

The risk appears more weighted to the RBNZ cutting the OCR further than otherwise.

Rebecca Howard 5:00am

Trump’s tariffs may spur a more dovish RBNZ

Sponsored

New life in property market

Tax rule changes are bringing back mum-and-dad investors.

Fletcher Living

Sponsored

Commercial property trends: AI, sustainability and growing confidence

Falling rates and green tech shape property investment’s future.

PMG

More Economy

Iron sand project could deliver $265m GDP boost: NZIER

Economy

Iron sand project could deliver $265m GDP boost: NZIER

Iron sands mining in Taranaki could create 1365 jobs, NZIER report says.

John Anthony 5:00am

Trump’s tariffs may spur a more dovish RBNZ

Economy

Trump’s tariffs may spur a more dovish RBNZ

The risk appears more weighted to the RBNZ cutting the OCR further than otherwise.

Rebecca Howard 5:00am

NZX-listed companies take stock in wake of US tariff moves

Economy

NZX-listed companies take stock in wake of US tariff moves

Wine makers, manufacturers and others mull what trade wars will bring.

Ian Llewellyn 03 Apr 2025

Analysts struggle to find upside from Trump tariffs

Economy

Analysts struggle to find upside from Trump tariffs

‘They've forgotten the lessons of the Great Depression,’ one analyst said.

Gregor Thompson 03 Apr 2025