Thinking of renovating. Is construction prices still increasing?

Home life
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Question, is it the right time to renovate? Or are construction prices still on the rise?

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Answer,
:megaphone:
Here are some factors to consider.

  1. From what I am seeing in the real estate industry the market cycle clock is in a 6-7 O’clock phase (bottom or slightly rising) but not all areas of NZ. So this means that new housing developments are pretty risky to do and therefore builders will probably be focused on doing renovations.
  2. Company liquidations (building companies) are continuing to rise so their is less building companies around to do the work (A very important point).
  3. We have noticed many associated companies like painters, plasters and flooring being very competitive in their quotes (They need and want the work)

So a quick and simple summary could be that renovating now may be a smart move, especially if the home dosen’t meet the healthy homes act!

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Here is a recent article that could be helpful and give a wider view point.