The New Zealand National Government’s single-minded focus on solving Auckland’s housing crisis by boosting supply continues to take a hammering.
Today, Statistics New Zealand released figures showing that construction momentum has slowed across Auckland, with just 942 dwelling consents issued in March and 10,199 issued over the year:
As noted by Interest.co.nz, “the number of consents issued in Auckland is still well below the estimated average of 1250 new homes that need to be built each month just to keep pace with the region’s burgeoning, migration-driven population growth”. Thus, “Auckland’s housing shortage is continuing to grow, adding to the estimated existing shortfall of at least 30,000 homes in the region”.
The latest dwelling consents data follows the record net migration in March of nearly 72,000 people, with Auckland expected to have received the lion’s share of arrivals:
It also follows Interest.co.nz reporting this week that housing affordability in Auckland has crashed to an all-time low, with first home buyers increasingly priced-out of the market.
Clearly, Auckland’s housing market remains under siege, causing further political pressure for the pro-mass immigration National Government.
