Growth rates for the country's construction costs are the lowest in almost eight years

The quarterly Cordell Construction Cost Index is a division of CoreLogic.

The latest results report an annual growth of 2.3 percent - down from the 10.4 percent peak recorded in Q4 2022.

Chief property economist Kelvin Davidson says although there's still pressure on the sector, the normalised supply chains make pricing easier.

He says by having an idea of future costs, they can price jobs more accurately - and there'll be fewer grumpy clients.