New Zealand Prime Minister Christopher Luxon announced that the country will allow construction companies to use overseas building products to lower prices. Building costs have risen by 41% since 2019 due to increased material costs. A plasterboard shortage in 2022 also hindered house building.
New Zealand will remove barriers for construction companies to use overseas building products in a move it hopes will bring down prices, Prime Minister Christopher Luxon said on Thursday. Building costs have increased 41% in New Zealand since 2019 in part due to the increase in the cost of materials.
House building was also curtailed by a shortage of plasterboard in 2022 when Fletcher Building, which produces more than 90% of plasterboard used domestically, could not keep up with demand.
New Zealand Construction Building Products Prices Christopher Luxon Building Costs Materials Plasterboard Shortage
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