Housing shortage a step closer

In today’s Herald on Sunday  is  further evidence (as if it were needed), that the Auckland housing market is heading for a crisis- something I have been saying for a year or more. Anyone still prepared to bet that house prices will fall by 30% as some punters  were picking? – Yeah-right.

The great disappearing home
By Kieran Nash HoS.  Sunday Apr 3, 2011

Auckland is facing a major housing crisis if current development trends continue.

Local officials predict that, at the current rate of development, there will be a shortage of 50,000 homes in 30 years – equivalent to all the homes in Hamilton.

Auckland Council chief planning officer Dr Roger Blakeley warned that Auckland needs to be proactive by subdividing smaller properties and expanding into semi-rural areas if it is to avoid a major housing crisis

It also said that renters would leap to 40 per cent of households – either by choice or because they could not afford to get on the property ladder

NZ Herald

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