Building prices slow
PA Wellington Lack of movement in labour costs has meant a slowing of increases in i building prices in spite of : rapid increases in material costs. The Building Industry Advisory council says in its March newsletter that the Valuation Department’s section price index from June to December i actually decreased. That was an over-all increase of 7 per cent for the year because of a substantial increase in the first half of the year.
“The composite cost indices reflect on the one hand contiriuing rapid increases in material costs, and on the other very little movement in labour costs.
“The net effect of these different movements was an over-all slowing in rates of increase.”
The consumer’s price index shows a rise of 10.1 per cent. The Valuation Department section price index was up 7 per cent while its house index rose 1.8 per cent.
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Press, 31 March 1979, Page 5
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147Building prices slow Press, 31 March 1979, Page 5
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