Development update: March 2017

I wrote in December that “2016 has been a big year for development” – now that we’re a little bit past the end of the year, it’s actually possible to see how big it was. Still, as the cheese ads say, good things take time. It will take many more years to fix Auckland’s housing challenges. Auckland Housing I keep a close eye on the number of new homes given ‘building consent’ each year. It’s a good sign of what’s coming up ahead. The figures have been rising, but certainly not as quickly as they were a couple of years back. In total, Auckland consented 9,930 new homes in 2016, …
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Development update: January 2017

2017 will be the Year of the Terrace. Terraced homes, built in rows: neighbours on either side, but not or above or below. They’re relatively cheap to build, and they’re within the reach of many small/ medium-sized building firms, ones which have traditionally concentrated on detached houses. Of course, Auckland is building many kinds of housing – from detached McMansions right through to compact apartments. But terraces are a nice middle ground for many people, and this year they’ll be built in all corners of Auckland, and in many of the more central parts as well. Which corners? For starters, Orewa, Silverdale, Whangaparaoa, Long Bay, Albany, Hobsonville, Massey, Sunnyvale, New …
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Development update: December 2016

2016 has been a big year for development, and by “development” I mean the process of getting new homes built, or any other new buildings for that matter. In the last “development update” post for the year, I wanted to look back at some of the highlights which you might have missed. You can click through to these at the bottom of the RCG Development Tracker page. January focused on retail. “Up until 2007, the retail sector was on a roll, and new shopping centres were being built all over the place. That changed when the recession hit in 2008 [but] 2015-2016 sees the biggest expansion since the GFC”. In …
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Development update: November 2016

I’ve just updated the RCG Development Tracker for November – it’s now got almost 800 developments listed, across all property sectors but with a focus on higher density residential. The ones which didn’t make it In the last month, we’ve had a bit of media coverage about developments being cancelled. It’s always sad when a project doesn’t proceed, especially for first home buyers who put down deposits, and were looking forward to owning their own home. They’ll get their deposit back, but in the meantime property prices have kept going up, and their plans for moving home are disrupted. Unfortunately, developments being cancelled (or put on hold, or reworked) is …
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Development update: September 2016

This will be the last “development update” post for a while, as I’ll be off on holiday for a month. The RCG Development Tracker has just been updated and I’ll get back onto things in November. Oh, and one of the updates is that I’ve added in the Northern Busway and (proposed) AMETI busway. It’s been a pretty big month for office development, with two major new office buildings announced in August. Let’s take a look at the offices popping up around Auckland. City Centre Without a doubt, the city centre is leader of the pack for offices. The rents are higher and the buildings are bigger. I did a …
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Development update: March 2016

Through my employer RCG, I’ve just put out a research piece giving 2017 as the first time that Auckland will build more attached homes (apartments, terraces) than detached houses.* This is one milestone, but really it’s just one of the ways in which Auckland is changing to become more city-shaped, as Patrick puts it. While the number and percentage of attached homes will bounce around, I believe that they’re increasingly important for Auckland’s growth, and in the long term they’ll make up at least 50% of the new homes we build. That doesn’t mean that leafy suburbs will be razed wholesale, or that we’ll stop building detached houses, or that …
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Development update: February 2016

Auckland’s population keeps on growing, with a hearty mix of migration and wee bairns. And with that comes demand for development of all kinds. Residential gets most of the attention, and fair enough too: we’re still struggling to build enough homes for everyone who wants to live here. The Auckland Housing Accord between the government and council is into its third year. I’m eagerly awaiting the release of Auckland Housing Accord Monitoring report #9, hopefully by the end of this month. Will it be a riveting read like Auckland Housing Accord Monitoring report #8, or prescription medication for insomniacs like Auckland Housing Accord Monitoring report #5? Find out right here …
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Development update: January 2016

2015 was a good year for the retail sector, and early indications are that stores had a good Christmas too. December is the busiest time of the year for retailers. They’ll move mountains to make sure that new shops (and shopping centres) are open in time for Christmas trading. Up until 2007, the retail sector was on a roll, and new shopping centres were being built all over the place. That changed when the recession hit in 2008 (and online shopping has no doubt had a big influence as well). Retail development has been coming back to life over the last couple of years, and 2015-2016 sees the biggest expansion …
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Development update: December 2015

This is the last “development update” post for the year, so I want to look back on some of the big news from the year (and things which weren’t ‘news’ in the media sense but which I think are important). Christchurch gets special attention, because of the massive changes that have had to happen down there. Housing This was the year that Christchurch started to get on top of its post-earthquake shortage. Consents peaked at around the start of 2015 on an annualised basis, and have started to decrease slightly. The housing situation is starting to return to normal. Rents went up hugely after the quakes, and that has eased …
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Development update: November 2015

Spring is usually a busy time in the residential property market. I’ve always thought that the best time to check out a house is winter, so you can get an idea of whether it stays warm or not, but what do I know? This spring has also been a very busy time for launches of new residential projects – i.e. they’ve started going on sale, whether or not they’re actually being built yet. Since September, 13 apartment/ terrace projects have launched by my count, with 810 homes between them, and there’s still half of November to go. Launched in spring 2015: West Edge (stage 1) Atelier Daisy apartments Juliette Lofts …
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