NZ Construction Costs Update

Get the latest construction costs with QV CostBuilder

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QV CostBuilder is New Zealand’s most comprehensive construction cost database.

May 2024

In our latest May update, approximately 12,250 current material & labour prices have been applied to the QV CostBuilder rates, resulting in roughly 6,100 changes to the data across Auckland, Hamilton, Palmerston North, Wellington, Christchurch and Dunedin.

Here are some of the notable changes since our last construction cost update in April:

Cost planning rates

On average, the Elements have not increased since the last update, which is the third month in a row since the 2024 Q1.3 update. However, there are changes to some elements, ranging between -1.6% and +0.8%, including:

  1. Exterior Walls, Exterior Finish: up 0.8%
  2. Frame: down 0.7%
  3. Site Preparation: down 1.6%

Detailed rates

On average, the Trades increased by 0.1% since the last update, also a third month in a row since the 2024 Q1.3 update. The range of change is between -2.3% and +2.5%, with the major changes as below:

  1. Suspended Ceilings: up 2.5%
  2. Fire Proofing: up 2.2%
  3. Carpentry: up 1.6%
  4. Structural Steel: down 1.4%
  5. Metal Framing: down 2.3%

Building Costs per Square Metre

Inputting these changes into the Building Cost per Square Metre section, produces average changes over the six centres of 0.4% for non-residential, excluding Educational buildings, and 0.3% for residential buildings, since the 2024 Q1.2 update.

April 2024

In our latest April update, approximately 11,300 current material & labour prices have been applied to CostBuilder, resulting in roughly 2,000 changes to the data across Auckland, Hamilton, Palmerston North, Wellington, Christchurch and Dunedin.

Here are some notable changes since our last construction cost update in March:

Cost planning rates

On average, the Elements have not increased since the last update, which is the second month in a row, following the 2024 Q1.3 update. However, there are changes to some elements, ranging between -0.2% and +0.7%, which are as follows:

  1. Sanitary Plumbing: up 0.7%
  2. Windows and Exterior Doors: down 0.2%

Detailed rates

On average, the Trades increased by 0.1% since the last update, also following a similar increase in the 2024 Q1.3 update. The range of change is between -0.1% and +1.6%, with the major changes as below:

  1. Gasfitting: up 1.6%
  2. Plumbing: up 0.8%
  3. Formwork: down 0.1%

March 2024

In our March update, approximately 11,300 current material & labour prices have been applied to CostBuilder, resulting in roughly 3,700 changes to the data across Auckland, Hamilton, Palmerston North, Wellington, Christchurch and Dunedin.

Here are some notable changes since our last construction cost update:

Cost planning rates

On average, the Elements have not increased since the last update. However, there are changes to some elements, ranging between -0.3% and +0.6%, with the largest being:

  1. Wall Finishes: up 0.6%
  2. Partitions: up 0.4%
  3. Structural Walls: down 0.3%
  4. Sanitary Plumbing: down 0.3%

Detailed rates

On average, the Trades increased by 0.1% since the last update, with the range between -1.1% and +2.0%. The major changes are:

  1. External Works: up 2.0%
  2. Plasterboard linings: up 1.9%
  3. Plumbing: up 0.6%
  4. Concrete Blockwork: down 1.1%

Want to know more?

To see the full list of changes – and to take the guesswork out of pricing your next project – subscribe to QV CostBuilder today.

Your subscription grants instant access to a wealth of regularly updated data, covering everything from the building costs per square metre for a range of different buildings, to the indicative costs of more than 10,500 other items, plus labour rates and hours, plant constants, and more than we can list here.

Check out a free CostBuilder demo HERE.