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New Zealand Seeks Lower Building Costs Through More Competition

Homes under construction in the suburb of Pukekohe in Auckland.

Homes under construction in the suburb of Pukekohe in Auckland.

Photographer: Brendon O'Hagan/Bloomberg

New Zealand plans to curb soaring prices in the building industry by increasing competition and making it easier for new and alternative products to enter the market.

The government signaled its willingness to act on the recommendations of a Commerce Commission report into residential building supplies published Tuesday in Wellington. The competition watchdog said it needs to be easier for new building products and new methods to be introduced into New Zealand, and for competing suppliers to be able to expand their businesses.