If there was any ever doubt that building more homes makes them cheaper, the experience in New Zealand’s largest city should dispel it.
If there was any ever doubt that building more homes makes them cheaper, Auckland’s experience should dispel it.
University of Auckland research economist Ryan Greenaway-McGrevy, who has written extensively on Auckland’s zoning reforms, said the city’s pre-2016 planning regulations had made itBetween the 2013 and 2018 censuses, New Zealand’s population increased 10 per cent, but the number of occupied homes grew just 5 per cent.The lack of supply made housing increasingly unaffordable, and house prices in Auckland surged 130 per cent in the decade to 2021.
“The newspapers had a field day showing everybody how their neighbourhood was going to change,” Dr Greenaway-McGrevy said. Whereas the 2002 boom was centred on high-rise apartments in the CBD, the latest boom has been concentrated in multi-family and mid-rise dwellings. So-called “attached” dwellings now make up about half of all approvals, compared with one-quarter before the reforms.
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