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

NZ's Financial Adviser News Centre

GR Logo
Budget Briefing Friday - click here for details Dismiss
Last Article Uploaded: Thursday, May 30th, 6:45PM

News

rss
Latest Headlines

Super City changes enabled by Unitary Plan

Investors – take note: Auckland’s housing stock is changing with nearly two thirds of the new dwelling consents in May for apartments and townhouses.

Tuesday, July 16th 2019, 10:27AM

by Miriam Bell

The Auckland Council’s latest monthly housing update shows that almost 90% of the new dwellings consented in the Super City in May were in urban areas.

Further, over the past 12 months, 94% of new dwellings consented were inside the rural urban boundary.

Alongside that, 62% of those new consents were for denser housing types such as apartments and townhouses – with 28% of those consents for apartments.

In contrast, just 35% of May’s consents were for standalone houses.

These figures highlight how the Auckland region is changing in response to the housing needs of the city’s fast-growing population.

And they also illustrate the impact of the much-maligned Unitary Plan in enabling that.

Auckland Council’s director of urban growth and housing, Penny Pirrit, says the latest consent figures reflect what is set out in Auckland’s long-term growth plan.

“The Auckland Plan, which looks 30-years ahead, states that most future growth will occur within the existing urban areas, with less sprawl into rural areas, so it’s pleasing to see the consenting data reflect this.”

The change in Auckland’s housing stock is becoming more pronounced, she says.

“This is being driven by increasing numbers of Aucklanders wanting to live close to work, near commuting options and in low-maintenance properties.”

A huge factor in this is the Unitary Plan which is enabling more homes to be built in areas where people want to live.

Pirrit says that by removing much of the density controls that prevented intensification in some parts of the city, the Unitary Plan has made it easier for new types of homes to be delivered for Aucklanders.

Auckland’s improving public transport networks are also influencing where new homes are built, with 29% of new dwellings consented within 1500 metres walking distance of a rapid transport network, she adds.

In total, 1,657 new dwellings were consented in the Auckland region in May 2019. In the year ending May 2019, 13,881 new dwellings were consented in the region.

The data in the Council’s housing update also indicates that investors have not given up on the Auckland market.

It shows that 40% of residential properties sold in Auckland were purchased by investors in May 2019. First home buyers bought 28% and movers 20%.

Read more: 

Affordable housing in Auckland now doable 

How to profit from the new plan

Tags: Apartments Auckland Auckland Council consents housing market property investment property management

« Changes to quake prone building systemBachcare charged with misleading consumers »

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
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 - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 ▼7.65 ▼7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 7.29 6.59
SBS Bank Special - 7.14 6.69 5.99
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 ▼7.84 7.35 ▼6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - ▼7.24 6.75 ▼6.39
Median 8.64 7.19 7.27 6.65

Last updated: 28 May 2024 11:21am

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