Current Per Square Mete Building Costs.

[Sparrow]

Can anyone give me an indication as to the current per square metre building cost for ordainary domestic housing in the Wellington area?
Thanks,
Sparrow.

[casacamo]

Current 'Rule of Thumb' 750-1500 per sqm
750 being basically shell construction where you finish off lining, painting
etc. and 1500 (upwards0 being full completion kitchen,bathroom etc.
obvoiusly the higher the spec the greater the cost.
The problem at the moment (in Auckland anyway) is getting tradesmen
to provide quotes let alone book them in for work in the near future.
most decent builders have 1-2 houses on their books aleady and are
not schedule any more work until after Easter 2005 !!!
Being in demand also means higher prices than normal.

cheers
CC

[hawkeye]

I read an article today that said the NZ Average was $1261 per sq m.

Do you think I can find the article again. Grrrr

[artemis]

There is a new article on this site under Current News, called Average home-building costs hits $1021/m2.

[Sparrow]

Thanks for those replies - they confirm my off the top of my head guess that it is +/- $1000.00 p.s.m.
Which raises an interesting question. We got our latest 3 yearly Qual Valuation yesterday, (dated August 2004) and by dividing their given value of the improvements by the square meterage of the house, we get a per square metre rate of $550.00. And that is not taking any other improvements such as concrete driveway, fencing, sheds etc into account. The house is well above the average in terms of style, structure, materials and finishing. An article in the local rag suggests the new valuations should be within +/- 10% of the market value.
Huge joke.....
So, my next question is, just where do Qual Value get their figures from and how can they justify such out of kilter valuations?

[graemeh]

We got our latest 3 yearly Qual Valuation yesterday, (dated August 2004) and by dividing their given value of the improvements by the square meterage of the house, we get a per square metre rate of $550.00. And that is not taking any other improvements such as concrete driveway, fencing, sheds etc into account. The house is well above the average in terms of style, structure, materials and finishing. An article in the local rag suggests the new valuations should be within +/- 10% of the market value.
Huge joke.....
So, my next question is, just where do Qual Value get their figures from and how can they justify such out of kilter valuations?

All that tells you is that the cost of replacing your house is more than it's current market value.

In some ways, this is a good thing, it means that it is cheaper for people to buy your house rather than build a new one.

[Guest]

Cheapy stuff is around 1200-1500. If you want to build a "quality" house , its now $2100 per sqm.

[Sparrow]

Cheapy stuff is around 1200-1500. If you want to build a "quality" house , its now $2100 per sqm.

Wow!! That's huge.

But I hope when we go to the market we get more than the valuation + 10%.
In the meantime, I guess the low val. keeps our rates reasonable.