22 Nov 2021

Govt steps in to review building supply costs as demand soars

From Morning Report, 8:12 am on 22 November 2021

The government is stepping in to review the high cost of residential building supplies.

There have been long-standing concerns about a lack of competition in the sector. In a 12-month market study the Commerce Commission will investigate factors affecting supply chain of key building materials including the foundation, flooring, roof, walls and insulation.

Current demand for renovations and extensions to existing homes is at the highest it's been in 15 years.

Minister of Commerce and Consumer Affairs David Clark said it was critical New Zealanders had access to fairly priced building supplies.

He spoke to Corin Dann.