Council Compact City plan for affordable housing in tatters

Auckland Council officers must be sweating bricks because the holy grail of their compact city plan – apartments – are experiencing sky rocketing price rises.

Auckland apartment prices have hit an all-time high, up almost 32 per cent in a year.

Data from realestate.co.nz out this morning showed a new average asking price of $660,000 for Auckland apartments, up 31.5 per cent since November last year and almost twice as much as the price rise for Auckland houses, which rose 16.8 per cent annually.

Brendon Skipper, realestate.co.nz chief executive, said prices had been rising steadily since 2013.  

“We’ve seen the asking price of apartments in Auckland increase strongly and steadily over the last 24 months. This has driven the national average, which has now breached the $600,000 mark for the first time, only eight months after the national average asking price for apartments first broke the $500,000 barrier in March,” Skipper said.

Auckland dominates the apartment market, accounting for 71.9 per cent of all national apartment listings in New Zealand.

Auckland Council have always touted apartments as the affordable alternative to houses that have become unaffordable to many. But with apartments now jumping out of reach of most people the fact is everything in Auckland is unaffordable.

Surely that undermines the compact city model and the Rural Urban Boundary is doing nothing except making Auckland over-priced and at risk.

Time for Auckland Council to wake up and smell the coffee. Give up on the compact city and zone greenfield land to keep prices under control.

 

– NZ Herald


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

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