The Reserve Bank has cut the official cash rate by 0.5% to 4.25%, and with more likely to come, it is good news for some borrowers, says Core Logic Chief Economist Kelvin Davidson The financial markets and bank economists were unanimous in expecting the Reserve Bank to cut the official cash rate by 0.5% to 4.25%, and this was duly delivered. Continue →

Tauranga’s mayor says the city is facing a housing shortage and it is better to occupy current dwellings than build new ones By Alisha Evans Local Democracy Reporter The number of ghost homes is on the rise in Tauranga, but the city still has fewer empty houses than another area in the region. Continue →

CoreLogic Chief Property Economist Kelvin Davidson explores the driving forces behind New Zealand’s decade-long house-building boom Townhouses have become a key component of growth for NZ’s housing market, accounting for 45% of all new dwelling consents across NZ lately, compared to just 6% back in 2012. Continue →

Building and Construction Minister Chris Penk’s proposal to reduce insulation standards is misguided and a step backwards that threatens the health, well-being, and economic stability of New Zealanders, writes Jennifer Hamlin Penk’s proposal comes in the wake of significant improvements to insulation and glazing requirements introduced in the H1 part of the Building Code (May 2023). Continue →

Housing Minister Chris Bishop has announced his ‘Going for Housing Growth’ policy which he says with flood the market with new homes, both up and out, but local councils say they weren’t consulted and are wondering how they will afford it New housing requires roads, footpaths, green space, and services, which are currently really expensive for councils and ratepayers, says Local Government New Zealand (LGNZ) President Sam Broughton. Continue →

Stats NZ has released its experimental dataset on construction timelines and completion rates, but Shane Martin, Principal Economist at MRCagney, points out that demolitions are still a missing piece of the puzzle The dataset from Stats NZ tells us how many consented dwellings (i.e., Continue →

Wellington City Council has made decisions on its proposed District Plan which, if approved by the Government, will greatly increase construction of new housing, it says An Independent Hearings Panel (IHP) that presided over hearings in 2023 presented their recommendations to Council in February 2024. Continue →

Housing Minister Chris Bishop wants cities growing ‘out’ and ‘up’ – but with councils soon able to opt out of the Medium Density Residential Standards (MDRS), Better Things Are Possible author Malcolm McCracken explores how the ‘up’ can be achieved instead     Enabling greater capacity in our plans through intensification is key for unlocking greater housing supply and in turn affordability, as recent studies in Auckland and Lower Hutt have demonstrated. Continue →

We have learned a lot from Cyclone Gabrielle, and developed good policies and guidelines as a result, but some aspects of the Building Act still need to change to put them into practice, says University of Auckland Associate Professor Martin Brook One year on from the devastating Auckland Anniversary storm and Cyclone Gabrielle, many stories of misery and financial disasters have emerged. Continue →

A Capital Homes build at Paerata Rise has taken first place at the 2023 Registered Master Builders Awards, while five other build partners on the South Auckland development placed within the top 100 Out of nearly 300 entries across nine regions across the country, this is the most build partners placing this high amidst any other developments in the nation. Continue →

While the new government puts the brakes on light rail in Auckland, Sydney is steaming ahead with its new 24-kilometre metro line and is making plans for extra stations to encourage tens of thousands of new houses Contruction of the Sydney Metro West started in 2020 and when completed in 2032 it will connect Greater Parramatta and the Sydney CBD. Continue →

Though National u-turned on its bipartisan agreement with Labour on the Medium Density Residential Standards (MDRS), there is a way it can be salvaged whilst winning the ACT Party’s support in the process, writes Yes In Our Backyards co-author Marko Garlick National’s alternative policy, a ‘30 years of growth’ housing target, is ambitious but has already been criticised as hard to define and police, and would likely take years to implement. Continue →

Consisting of 350 new rental apartments, this is the first of a planned portfolio of Build-to-Rent developments by the McConnell Property and Cedar Pacific Consortium On 18 September this year, resource consent was granted to McConnell Property for the Takapuna project. Continue →

Community Land Trusts (CLTs) are a growing response to the failures of market provision of housing in a number of countries, a new report finds, but can they work to address housing issues in New Zealand? Continue →

While the New Zealand housing crisis is not over and higher interest rates are leading to lower house sales and new consents, a positive story is emerging in the burgeoning Build to Rent sector, Better things are possible’s Malcolm McCracken writes The Ministry of Housing and Urban Development defines Build to Rent housing as “a type of medium to high-density residential development, specifically built to provide long-term rental housing.” Continue →

A 0.75% tax on urban residential land as proposed by the Opportunities Party (TOP) to help fund income tax relief could come with the added benefit of helping solve New Zealand’s housing shortage The value of land is collectively and publicly created, Strong Towns’ Rick Rybeck writes. Continue →

Following an extended period of elevated development activity across New Zealand, Colliers expects new building construction to fall to its lowest levels since the Global Financial Crisis within the next 12 months A confluence of mounting challenges has resulted in a marked slowdown in development activity over recent months. Continue →

Kāinga Ora could take control of the planning and development for several suburbs along the yet-to-be-built Auckland Light Rail corridor, undermining Auckland Council’s local authority Senior Labour ministers have directed Kāinga Ora – Homes and Communities to assess the potential establishment of the Auckland Light Rail project as a Specified Development Project (SDP). Continue →

As part of its Housing Action Plan 2023-2025, Wellington City Council is taking several measures to support better housing outcomes in the city, including partnering with private building owners and developers There’s no denying that the housing crisis is the biggest issue facing Wellington, says Councillor Tamatha Paul, Chair of the Council’s Kōrau Tūāpapa Environment and Infrastructure Committee.  Continue →

Though National’s decision to somewhat back down on the Medium Density Residential Standards (MDRS) comes as a disappointment, there are some good new policies in this plan, Better things are possible author Malcolm McCracken writes It’s important to start with the primary outcome of a National-led government implementing this plan – the ability for Councils to opt-out of the MDRS. Continue →