10 May 2013

Auckland Housing Accord will provide action and accountability

Property Council New Zealand welcomes legislative changes to fast track selected housing developments in Auckland.

The Auckland Housing Accord, announced today by Housing Minister Nick Smith and Auckland Mayor Len Brown, will provide real action, targets and accountability to relieve the region’s housing squeeze said Property Council’s chief executive Connal Townsend.

“The Government and Auckland Council are in overdrive to solve issues hindering development in Auckland. I applaud Ministers, the Mayor and Auckland Council for reaching this agreement. This is a positive step in the right direction.

“The region is facing an overheated housing market, and it is time measures are put in place to address this pressure. Property Council will begin reviewing the detail of the plan to identify any ramifications for the private sector.

“The proposal for regular reporting is particularly welcome, as it will help ensure transparency and accountability. The reports will clearly show whether the panel is approving enough developments to relieve pressure.

“The commercial property industry will no doubt face some challenges in meeting these targets and there are a number of supply issues to work through. We will consult with members about some of these issues over the next week.

“Property Council has worked closely with Auckland Council for some time on how it will realistically manage increased population growth and the extent of density prescribed in the Auckland Plan. We are prepared to do whatever it takes to help Auckland Council achieve this.”

About Property Council New Zealand
Property Council is New Zealand’s commercial property voice. Property Council represents New Zealand's office, industrial, retail, property funds and multi-unit residential property owners, investors and managers. Property Council’s branches throughout the country represent some of the largest commercial property portfolios in Auckland, Waikato, Bay of Plenty, Wellington, East Coast/Hawkes Bay and the South Island and Otago region, the value of which exceeds $30 billion.

ENDS

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