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New Zealand house construction costs rise at fastest rate in two years


New Zealand house construction costs rise at fastest rate in two years
1 minute read
Housing construction costs in New Zealand surged by 1.3 per cent over the first quarter of 2021.
Housing construction costs in New Zealand surged by 1.3 per cent over the first quarter of 2021, according to the latest CoreLogic Cordell Housing Index Price (CHIP). 
The CHIP report measures the rate of change of construction costs in the residential market and covers freestanding and semi-detached single and two-storey homes.
The latest report shows the March quarterly growth is the highest rate of construction cost inflation since the first quarter of 2019, and far exceeds the 0.6 per cent and 0.4 per cent increases throughout the third and fourth quarters of 2020. ....

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Housing Market – CoreLogic report shows property resale performance strongest in 15 years


Source: CoreLogic
[AUCKLAND, NZ, 16 March 2021] CoreLogic New Zealand’s latest Pain and Gain Report for Q4 2020 found profit-making residential property resales between October and December increased to 98.4%; 20 basis points higher than the previous record of 98.2% in Q4 2005.
This national median resale gain equated to $276,000, with a median hold period of 7.3 years. On the flipside, 1.6% of resales in Q4 2020 were made below the original purchase price, or a median resale loss or ‘pain’ of just $25,000.
The Pain and Gain Report is New Zealand’s only regular analysis of specific property resales and how they compare to the home’s previous purchase price. ....

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