WELLINGTON, Oct. 29 (Xinhua) -- New Zealand construction costs remained relatively steady in October despite a sharp rise in diesel prices, with average construction trade rates increasing just 0.1 percent over the past month, industry data showed on Thursday.
Diesel prices rose an average of 19 percent from the previous month and were 76.2 percent higher than in February. Fuel-intensive construction activities saw more noticeable increases, with excavation costs rising 3.9 percent, while piling and demolition costs both increased 0.6 percent, according to the latest Quotable Value (QV) CostBuilder monthly construction cost update.
The update recorded more than 7,000 data changes across major New Zealand cities including Auckland, Wellington, Christchurch, Dunedin, Hamilton and Palmerston North.
Other price rises included processed timber products, up 6.2 percent, medium-density fiberboard, up 2.8 percent, reinforcing, up 2.7 percent, and roofing and cladding, up 1.6 percent, it showed.
However, some costs declined, including adhesives and sealants, down 4.2 percent, kitchen-related costs, down 1.2 percent, and structural timber, down 0.2 percent, statistics showed.
Rising fuel costs had not translated into broad-based construction cost inflation, as increases and decreases across different products and trades largely offset each other, QV CostBuilder quantity surveyor Martin Bisset said in a statement.
Bisset advised those budgeting for construction work to continue allowing for cost fluctuations, particularly in fuel-sensitive areas. ■
