Building costs 'skyrocketed' an eye-watering 20 per cent at the now-axed Avondale apartment project in the last year, its developer has revealed. "Since the genesis of this project, construction costs have sky-rocketed in Auckland. But the bank lending changes took him by surprise and were only recent. Related Content Rule changes to Volvo Ocean Race encourage more female sailors Ditched projects shouldn't put people off apartments - Key Dumped apartment projects: What happened? He is standing by his advice, after news that 35 apartment projects have fallen over, and thousands of planned apartments are not going ahead," Twyford said.

Source: New Zealand Herald October 11, 2016 02:48 UTC