Building consents for the Auckland region dropped in September for the second month in a row. 13000 new homes are needed each year to cope with the increase in population however new building consents are falling far short.
1083 new residential building consents are needed on average per month and so far only about two thirds of that amount have been issued. This shortage is pushing the existing shortage of 32,000 homes out by 4332 each year.
It’s hard to see Auckland’s property values dropping by much any time soon.
Average home values continued to rise in October, pushing past $900,000 in Auckland for the first time, according to government valuer Quotable Value (QV).
PropertyTutors mentoring clients are property investors who focus on buying, renovating and on-selling tired properties. In low socio-economic areas in particular, these property investors are turning unliveable properties into sought after homes. It’s a much needed service to increase the supply of homes in the Auckland region and in areas that are near amenities like schools, shops etc.
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