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Buildings 2017, 7(3), 57; doi:10.3390/buildings7030057

Exploratory Factors Influencing Building Development Costs in New Zealand

School of Engineering and Advanced Technology, Massey University, 0632 Auckland, New Zealand
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Received: 28 April 2017 / Revised: 3 June 2017 / Accepted: 15 June 2017 / Published: 29 June 2017
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Abstract

Identification of costs drivers and their influence level on building development costs play a key role in the development of construction models and improve the efficiency and effectiveness of any project. Forty-five indicators influencing building development costs in New Zealand are explored by literature review and pilot interviews. These indicators are grouped into seven categories. The determination and ranking of the cost drivers are carried out by a questionnaire survey distributed to key professionals working in New Zealand’s construction industry. Structural equation modeling (SEM) software was employed for analysis of the collected data. One of the key advantages of this powerful software is to provide the p-value according to the structure of the research model. Findings of this study indicate that the property market and construction industry factor, statutory and regulatory factor, and socio-economic factors are major factors affecting building development costs in New Zealand. View Full-Text
Keywords: influencing factors; building development costs; New Zealand; structural equation modeling influencing factors; building development costs; New Zealand; structural equation modeling
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Zhao, L.; Mbachu, J.; Domingo, N. Exploratory Factors Influencing Building Development Costs in New Zealand. Buildings 2017, 7, 57.

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