Another month, another update to the RCG Development Tracker – there are 32 new projects in there this month (bringing us to 349), and a number have been updated as well. Some of the newly added developments are:
- Lakewood Plaza in Manukau
- Aria Apartments in Ponsonby (part of the Vinegar Lane development)
- SKHY apartments in Grafton
- Residence du Lac in Queenstown
… with all of the above being apartment projects in the pre-sales stage.
The tracker isn’t all about apartments, though, and I’ve also added in some terraced housing developments, and retirement villages like Summerset Mountain View and St Kilda Retirement Village, and various office projects including some major ones in Christchurch.
Each month, besides updating the actual Development Tracker page, I’ll try to look at some other aspect of development or construction. This time around, let’s look at the always topical issue of just how many homes are being built. Building consents are the best leading indicator of how man, compared to what we’re used to at least. Apartment figures in Auckland were more or less flat, as were “all dwellings” (which includes detached houses, apartments and everything in between).
Similarly, consents for “all dwellings” are still stubbornly below 8,000 dwellings a year. The Auckland Plan target for this decade is 10,000 homes a year, a level we haven’t reached since 2005. Factor in the record migration into New Zealand (with another record set in January) and it’s clear that we won’t be getting on top of our supply issues any time soon.
While I’m on residential, let’s take a look down at Christchurch, where the post-earthquake rebuild has really started to take off.
Greater Christchurch – Christchurch City itself, plus the more small town/ rural Waimakariri and Selwyn districts on either side – is now building nearly as many new homes as Auckland. 6,620 were consented in the last year, up from 5,209 the year before that, and a more typical level of 3,342 the year before that. There were around 8,000 homes “red zoned” after the quakes, and quite a few homes besides that which need to be rebuilt as well, so it’s good to see that the situation is now coming under control (although not soon enough for the many people who were displaced).