The Auckland Economic Quarterly, released today, shows that the Auckland housing market has benefited from regulatory and structural changes including the Auckland Unitary Plan and its zoning rule changes, a surge in industry capacity in New Zealand, and ongoing economic strength in Auckland with income growth and low unemployment.
Auckland Mayor Phil Goff says the improved affordability shows the progress that is being made addressing Auckland’s housing issues.
“The Unitary Plan is working as it is intended to, helping Auckland become more compact, with 94 per cent of dwelling consents issued in the past year being within the Rural Urban Boundary,” he says.
“We continue to issue consents at record rates across the board, with 14,634 dwellings consented in the year to September. On this estimate, the city has been chipping away at its total housing shortfall for the past four months.