What is the construction price index?

What is the construction price index?


Month 2020 2019
October 7120 6851
November 7123 6895
December 7120 6924
Annual % * 2.8% 3.6%

How much have building costs increased in NZ?

Median cost of a house in NZ. Cost of building a new house in 2020. Cost of building a new house in 2021. Rising cost of building a new house in 2022….Median cost of a house in NZ.

Region Median Price YoY Increase
Auckland $1,290,000 25.9%
Wellington $1,000,000 24.2%
Bay of Plenty $920,000 27.8%
Tasman $920,000 25.2%

What is current CPI in NZ?

New Zealand’s Consumers Price Index (CPI) Since 2000, New Zealand CPI (Consumers Price Index) inflation has averaged around 2.15 percent.

How much does it cost to build a house in NZ in 2020?

co. nz’s analysis of Statistics NZ’s latest building consent figures. This shows that the average estimated construction cost (excluding land) of all new dwellings consented in the September quarter of this year was $2494 per square metre. That’s up from $2391 per square metre in the 2020 September quarter.

Why are NZ building costs so high?

Timber, particularly structural timber and cladding, was a key contributor to the cost increases, but metal costs and products were also a factor. Record high issuance of new home building consents, along with supply chain disruptions and a shortage of materials, made for additional cost pressures.

How do you calculate real GNP and price index?

Index number of prices may be used to estimate real GNP. When GNP at current market prices is divided by the price index of base year, we obtain real GNP.

What are the construction price indexes?

These indexes measure the average price change across the construction industry, from a household, producer, and employer perspective. Figure 1 shows a selection of these construction price indexes.

What is Labour Cost Index (LCI)?

Labour cost index (LCI) – construction index measures changes in the wage rates employers in the construction industry pay to have the same job to the same standard. The table below shows the price indexes for construction. We use the following data sources to compile the price indexes that measure price change in the construction industry.

What is PPI – Construction Input Index?

Producers price index (PPI) – construction input index measures changes in prices paid by producers in this industry for inputs such as raw materials, fuel, and services. It excludes labour and capital costs paid by these businesses.

How is construction industry value added calculated?

Price indexes and value of building work put in place are used to calculate construction industry value added for the national accounts. The data is used in both the production-based and expenditure-based measures of gross domestic product (GDP).