Construction
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Residential construction costs levelling out

After a period of rapidly rising costs in the building sector, pressures on supply chains and capacity are easing and the annual growth in residential construction costs has reduced to the lowest level in around seven years CoreLogic’s latest Cordell Construction Cost Index (CCCI) recorded a 0.8% rise in the fourth quarter of 2023. Continue →
Property Trends
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House prices back on the rise

The housing market’s slow but steady recovery continues, with all bar one of New Zealand’s main centres recording an increase in average house prices this last quarter, QV’s latest figures find   The latest QV House Price Index for January 2024 shows the average home increased in value nationally by 2% this last quarter to $925,461, representing a faster rate of growth than in the three months to the end of December, but still slightly slower than in October and November. Continue →
Design
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Clifftop build wins Australian Home of the Year

At the Housing Industry Association’s 2023 national Australia conference, the winners of the 2023 HIA-CSR Australian Housing Awards were revealed, with judges calling this year’s overall winner ‘a once-in-a-lifetime build’ The winners of the 2023 HIA-CSR Australian Housing Awards were unveiled before 550 industry leaders at the awards ceremony held as the final night of the HIA 2023 National Conference on Hamilton Island. Continue →
Engineering
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Aussie developer drops Auckland skyscraper project

ICD Property, the Australian developer working on Auckland’s tallest tower, has decided to exit the project, listing it for sale just months after winning approval Jasmax Architects design for 65 Federal Street ICD managing director Matt Khoo said the developer had decided to sell its first international site to allow it to pursue other projects in Australia. Continue →

Materials
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Building product regulations on the way

New Zealand-based manufacturers, importers, retailers and distributers will be hit with new obligations to provide building product users with information about how building products contribute to compliance with the Building Code The regulations will commence on 11 December 2023 by which time manufactures and importers must meet their obligations. Continue →
Compliance & Legal
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Property owners urged to do all the checks to avoid the traps

Work undertaken by unauthorised people, not only risks your health and safety – but may also invalidate your insurance policy, says PGDB Chief Executive Martin Sawyers Owner and director of 5 Star Plumbing Ltd, Michael Mullany, was sentenced to a $6,000 yesterday at the Auckland District Court for doing restricted plumbing work with an employee, without a current licence. Continue →

Training & Management
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Prize-winning construction business upskills in earthquake strengthening

A Waikato construction company has won one of four major national prizes in Xero’s inaugural Beautiful Business Fund and will be using its $20,000 prize money to train staff for an earthquake strengthening project next year Xero, the global small business platform has awarded four New Zealand small businesses and non-profits a share of the $750,000 global prize pool as part of the inaugural Xero Beautiful Business Fund. Continue →
All News
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Real estate listings up but sales down

REINZ’s January statistics show that while there are significantly more properties on the market, buyer activity has slowed January is usually a slower month for the completion of sales in New Zealand and this year is no exception with 2,995 properties being sold, Real Estate Institute of New Zealand (REINZ) Chief Executive Jen Baird says. Continue →