Unitary Plan changes are what Auckland needs

Press Release, Harcourts
For immediate release

27 July, 2016

Unitary Plan changes are what Auckland needs

In a city screaming out for more housing, the bold new blueprints for Auckland, at first glance, look exactly like what we need for our small, international city to realise its potential.

Harcourts CEO Chris Kennedy says the lack of housing supply in Auckland has driven prices up significantly over the last several years.

“Increased migration has enabled our economy to thrive. However, it has also left our biggest city unable to house everyone who wants to live here.

“We are not going to stop immigration. Realistically, we are not going to be able to stop people buying investment properties.

“We need more houses. Intensification is necessary, and is nothing to be feared as long as it’s done well. All the major cities of the world have large chunks of mid-density and high density housing,” Mr Kennedy says.

Auckland’s house prices have risen furiously over recent years. In June the average house sold for $909,733, a huge 10% jump on the previous year.

Total new listings, by comparison, dropped by 5%.

Mr Kennedy says this trend of ever diminishing supply and resulting price hikes has led to our current housing crisis, and “band aids” like LVR restrictions have not been able to buck the trend.

“Today’s recommendation that 422,000 new dwellings be provided for over the next 30 years, with expansion of the urban boundary and more intensification, is – at first sight – good news.

“Change can be scary. But we have to accept the fact that Auckland is changing. We can either be prepared for it, or continue to flounder.

“And while the full consequences have yet to become apparent, this is a bold move that looks just like what Auckland needs. Let’s embrace the change.

“We must hope that Auckland Council is bold in its approach to these proposed plans and we can start working towards a more successful city.”

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