Property

Home build costs hit a new high

Building costs in Marlborough are skyrocketing, with an average three bedroom house costing as much as $30,000 more now than two years ago.

Tuesday, August 23rd 2005

Marlborough builders cite a 25 percent increase in the cost of building a house in the last two years, due to an increase in the cost of labour and materials.

But some paying the bills suggest the increase is even higher, with one Marlborough woman saying the cost of her house had gone up $10,000 between quote and action.

"They told us at the time building prices were going up about $12,000 every six months," said Nicky Meadowcroft, who is currently having her 148 metre square Renwick home built.

She and her husband have had to downscale their plans to deal with the increasing costs.

"We had to resubmit and scale down the plans," said Shane Meadowcroft. "We just took a little bit off the whole house, around the perimeter."

He intends to cut back costs by putting the roof on himself and a friend has offered to complete the stopping on the house.

Blenheim builder Andrew Lawson said, "Costs have definitely gone up. Obviously with the building boom people have slipped their rates up.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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