Construction cost increases had their second-lowest annual increase on record, according to CoreLogic.
The data and analytics company says construction costs are up by 0.9 per cent for the year - a complete turnaround from the double-figure increases seen in 2022.
CoreLogic measures the cost of wages and materials - but not land - to build a standard 3 bedroom, 2 bathroom single-storey house.
CoreLogic's chief economist Kelvin Davidson describes the situation as moderate, and while the costs of materials have flattened, the cost of building is not retreating.
Year 13 students in a construction class at Wellington College. Photo: RNZ / John Gerritsen
