More than 5000 jobs will be created in 180ha of industrial-zoned land owned by the Stevenson Group. Kiwi Property, known for developments like LynnMall and Sylvia Park, has bought 51ha of land in Drury to create a town centre.
Auckland Council's economists argue that evidence from across NZ supports the conclusion that land use regulation is unlikely to be the main culprit for house price rises
Unsurprisingly, the biggest factors affecting house prices are population growth, (lack of) housing stock growth, and interest rate declines.
Further, the population’s preference is for fewer people per dwelling (PPD) than in the past. This means that, all else equal, housing supply actually needs to grow faster than the population to keep prices stable.
In slow-growing areas of the country, prices have remained subdued as house supply has easily kept up. But in Auckland, prices have risen sharply because too few houses have been built relative to the massive population growth, despite a large amount of land available to develop through the Unitary Plan.
Simply, a slow response in housing supply rather than lagging technical land availability explains much of the house price growth.
The Auckland Plan development strategy. Annual monitoring update 2016/17
The Auckland Plan 2012 Development Strategy anticipates where growth will occur in Tāmaki Makaurau / Auckland in the long-term (30 years). A quality compact urban form, where development is focused in existing urban areas, is a key aim of the Development Strategy.
Auckland is halfway through the first decade of implementing the strategy. This report provides an update on growth for both five years (between 1 July 2012 and 30 June 2017) and one year (between 1 July 2016 and 30 June 2017).