How buying a home from Wolfbrook Residential will help you avoid shortages and spiraling costsWritten by: Trish Bowell
There have been numerous reports in the media recently about building material shortages in New Zealand. These shortages have put a real spanner in the works for many people who have seen their move-in dates pushed out by several months or witnessed construction costs spiral as they plan their builds.
Created by a perfect storm of lockdowns, border closures, low-interest rates, and Government incentives, more people are building or renovating houses, causing an increase in demand for materials and driving up the cost of building overall.
When the Government announced New Zealand’s lockdown in March 2020, keen DIYers rushed to their local hardware store to use this time to finally get around to the renovations that they’d been putting off for years. Between their newfound spare time and the surplus funds that were initially put away for a holiday, materials have been flying off the shelves, and the stores and suppliers simply haven’t been able to keep up.
When lockdown was over It wasn’t only renovators looking to get their hands on materials, but with interest rates at a historic low and Government incentives favoring new build properties, construction has boomed. Coupled with strong global demand for Kiwi made timber and building materials this is a construction boom that sawmill, suppliers, and many construction companies were not prepared for.
To avoid spiraling construction costs many people are now looking to purchase a new build property off the plans. When buying property with Wolfbrook Residential, you are locking in the price when signing the contract, which means that you can safely avoid any nasty price increases down the track.
Wolfbrook’s scale and strong relationship with our suppliers and contractors has enabled us to lock in a solid, secure supply chain that will allow us to deliver over 400 new homes in the next 12 months.
Avoid shortages and spiraling costs by locking in your new build home with Wolfbrook Residential today.