tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, July 10th, 9:53AM

News

rss
Latest Headlines

Address Auckland infrastructure issues

Massive hurdle of Auckland infrastructure issues needs to be overcome before the city starts to suffer, a real estate agency head is warning.

Friday, March 24th 2017, 1:00PM

by Miriam Bell

There’s no avoiding Auckland’s severe housing shortage and record migration flows into the city mean there will be no let-up in demand for some time.

This means that it’s a problem which is not going to just go away.

But Harcourts CEO Chris Kennedy said that Auckland needs to effectively address its infrastructure issues before making decisions about development.

For Aucklanders, one of their biggest concerns is congestion on the roads and inadequate public transport which make the city a stressful and unpleasant place to navigate, he said.

“There is no easy fix to this and the situation will get worse if large scale development starts occurring across the city.

“Auckland needs more busways, train tracks and cycle paths. Auckland needs to be innovative, so our leaders need to look at examples of solutions that have worked overseas.”

Kennedy said doing this would come at a large cost but, as it is critical time for the city, there is no alternative.

“If we get things wrong now, we risk parts of Auckland becoming pockets of ill-thought out, ugly and poorly-made construction.

“Like most Aucklanders, I love the city and want it to get bigger and better, not just bigger.”

To this end, future construction should be well-planned, high quality and in line with the overall aim of making Auckland a beautiful and liveable city.

But that means ensuring there is adequate infrastructure to keep pace with the city’s growth, Kennedy said.

“Unless we can have massive investment into Auckland, with a skilled workforce ready to execute immediate and significant infrastructure upgrades, guidelines should be put in place to encourage new arrivals to settle outside of Auckland.”

A pause in Auckland’s growth while the city catches up to where it needs to be in terms of infrastructure, is vital, he said.

“Once the infrastructure is in place to support growth, then higher density, high-quality housing construction could, and should, start.

“Auckland Council should go into this phase of the city’s evolution with purpose and vigilance, but also flexibility and vision.”

The Christchurch rebuild is an example of what is possible in a short space of time, Kennedy added.

“The same is possible in Auckland, but first the infrastructure.”

Infrastructure funding is a hot topic at the moment.

Labour Party housing spokesperson Phil Twyford this week proposed the creation of a Treasury unit which would provide very long-term infrastructure bonds paid back by targeted rates.

Auckland mayor Phil Goff is keen on the introduction of a targeted infrastructure rate for new large-scale developments, while the Government is currently accepting council applications for its Housing Infrastructure Fund.

Read more:

Targeted rates proposed for housing developments 

Reduce developer charges, reduce housing costs 

« Friday news in briefInvestor confidence remains high across most of NZ »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Harking back to the old days
    “Really positive news. NZ has been blessed by many successful leaders and it is good that their skills can skill be utilised...”
    2 hours ago by Francis L
  • Harking back to the old days
    “I dare say Cigna just got that extra grunt it's been looking for....”
    4 hours ago by Matron
  • Greens want ACC extended to cover sickness
    “The Greens have no idea The purpose of the Woodhouse report was to remove the "at fault" component of accidents Sickness...”
    20 hours ago by LNF
  • Commission disclosure: What's material?
    “The consumer should know that there is at times large amounts of comission involved but it has to be balanced with not confusing...”
    24 hours ago by Good Hamish
  • Commission disclosure: What's material?
    “There should be no place for a subjective materiality test in the disclosure regulations, especially where is is the party...”
    1 day ago by Paul Flood
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 3.19 3.19 3.49
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 ▼3.39
ANZ Special - ▼2.55 ▼2.69 ▼2.79
ASB Bank 4.45 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone 4.44 4.44 4.44 4.44
BNZ - Classic - 2.65 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.60 2.65 2.80
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset - - - -
Kiwibank Special 3.40 2.65 2.79 3.25
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.49 3.45 3.39 3.69
SBS Bank 4.54 3.29 3.19 3.49
SBS Bank Special - 2.79 2.69 2.99
The Co-operative Bank - Owner Occ 4.40 ▼2.69 ▼2.75 ▼2.99
The Co-operative Bank - Standard 4.40 ▼3.19 ▼3.25 ▼3.49
TSB Bank 5.34 ▼3.35 3.49 3.79
TSB Special 4.54 ▼2.55 2.69 2.99
Wairarapa Building Society 4.99 3.75 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.55 2.69 2.79
Median 4.55 3.19 3.22 3.39

Last updated: 10 July 2020 9:02am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com