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Indicator 13: material construction costs

Discussion and links

The cost of constructing a new dwelling can be broken into two components: 1) material costs, or the cost of land, materials and labour to build the dwelling, and 2) compliance costs, or the associated costs of complying with local authority regulations such as obtaining a building consent, arranging the necessary inspections and complying with the Resource Management Act 1991 (RMA).

Compliance costs are difficult to quantify as they vary considerably with the nature of the dwelling and territorial/regional authority.

The links provided under this topic intend to give an indication of the material construction costs required for a new dwelling to show the affordability of building one’s own home.

Department of Building and Housing – estimated building costs

The Department of Building and Housing website provides an estimate of building costs based on geographical location, building types and floor area. The figures are updated regularly and time series data are available.

Capital Goods Price Index

The residential buildings price index will also show cost trends for new residential buildings. It is included as part of Statistics New Zealand’s Capital Goods Price Index. The index takes account of the cost of construction materials as well as labour costs and all other subcontractors charges (land costs are excluded).

The Capital Goods Price Index is updated every quarter.

Specifications

  • Data source: Statistics New Zealand, Capital Goods Price Index; Department of Building and Housing, Estimated Building Costs
  • Frequency: Capital Goods Price Index – quarterly; Estimated Building Costs – half-yearly
  • Geographic level of data availability: New Zealand
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