Has NZ's Quarter Acre Dream Been Replaced By Unit Utopia?

NZ International Building Expo and Summit to focus on medium density housing as consents show multi-unit consents overtake standalone house consents for 3 rd straight month

At a time when consents for multi-unit homes exceeded consents for new standalone houses for the third consecutive month this year, a question asked by the man behind this year’s New Zealand International Building Expo and Summit is whether 2022 is the year in which New Zealand’s cherished Quarter Acre Dream has been replaced by ‘Unit Utopia’.

Stats NZ reported in its July 2022 figures that the annual number of consents for new multi-unit homes - townhouses, apartments, retirement village units, and flats - exceeded new standalone houses for the third consecutive month. The numbers show that multi-unit home consents for March, April and May were 25,562, 25,773, and 26,479, versus standalone home consents in the same period of 25,402, 24,915 and 24,536. It also shows that multi-unit home consents are now greater in number than standalone houses at any previously recorded point.

For this reason, the theme for this year's New Zealand International Building Expo and Summit (NZIBES) is Medium Density Housing says Frank Xu, the President of the New Zealand Chinese Building Industry Association (NZCBIA) and driving force behind NZIBES.

“We now truly live in a medium density era. I have been saying for some time that it is coming, and last year medium and high density consent numbers exceeded those for low-density homes for the first time. The latest numbers only underscore that this new era of Unit Utopia is truly here as medium density homes become more attractive to buyers. And, as the trend continues to rise and consents lead to built product, multi-unit homes are set to be more common on the market.

“This creates opportunities and challenges for the residential development and construction sectors. Challenges emerge from the regulatory environment and in the contracts that are used in the sector. We need a good contract for medium density housing. It also creates challenges regarding ongoing maintenance, because although many developers do not favour the body corporate structure, the whole sector appreciates how important maintenance responsibility is for all units in a medium density block.”

Xu says that at this time of change it makes sense for anyone involved in the residential development and construction sectors to surround themselves with the most up-to-date knowledge and expertise at the 2022 New Zealand International Building Expo & Summit.

“With 10,000+ attendees to our Expo last year, and 90+ exhibitors planning to showcase their brands and products this year, not to mention over 800 guests at NZIBES' Gala dinner, you couldn't find yourself in a better position to learn, collaborate and succeed over the next few years.”

Sponsors and exhibitors at NZIBES this year include PlaceMakers, Barfoot & Thompson, Bank of New Zealand, Sub-Zero & Wolf, KONE, Unicom, Dahua, CMP Construction, James Hardie New Zealand, Resene, Rothbury Insurance, LiveFirm Construction, Archiland Architecture, Dreamhome Group, Mico Plumbing, William Buck, Kohler NZ, Precise Homes and Plaxo Mortgages.

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