New Zealand’s chronic housing shortage continues to worsen, especially in Auckland, despite dwelling consents rising to 15-year highs and immigration falling.
There were 12,369 dwelling consents issued across Auckland in the year to June (up 19%), and 32,860 consents issued across New Zealand over the year (up 7.9%):
However, despite the pick-up, this supply boost is nowhere near enough to offset New Zealand’s rampant immigration-fuelled population growth, whereby 64,920 net migrants have landed over the past year driving a circa 90,000 increase in New Zealand’s population, with Auckland’s population increasing by more than 40,000:
New Zealand’s (particularly Auckland’s) already chronic housing shortage continues to worsen each and every month as dwelling supply fails dismally to keep pace with rampant immigration-fuelled population growth.
Sadly, despite offering a sound election platform of slashing immigration and boosting dwelling supply, the Labour-led coalition government has failed to follow through, instead doubling down on turbo-charged immigration levels as well as backsliding on its commitment to remove urban growth boundaries and watering down its ‘KiwiBuild’ house building program.
New Zealand’s housing shortage has become an intractable mess, and every month Labour is falling further into the housing abyss.