Government tackling high construction costs
The Government is focused on reducing sky-high construction costs to make it more affordable to build a home, Building and Construction Minister Chris Penk says.
Stats NZ data shows the cost of building a house has increased by 41 per cent since 2019, making housing even more unaffordable for Kiwi families.
“Further analysis shows building costs are consistently higher in New Zealand than several overseas jurisdictions, with comparisons showing the cost to build a standalone house is around 50 per cent more expensive than it is in Australia. This must change.
“Not only do high building costs make it harder for families trying to purchase their first home, but they have far-reaching economic and social consequences such as higher mortgage repayment costs, higher rents, and increased demand for social housing.
https://www.beehive.govt.nz/release/government-tackling-high-construction-costs
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