Building your own house could prove to be an expensive venture, according to the latest figures released by Statisitcs New Zealand.

Wages and material costs are said to be contributing to the rising prices associated with building.

Statistics New Zealand figures show an increase of 5.1 per cent for the year so far.

The price of timber is also climbing - it's up 10 per cent, due to higher international demand. Much the same costs are also being experienced throughout the construction industry.