Some good news with numbers from Stats NZ showing that building consents continue to rise and even more so that there is a noticeable increase in apartment numbers. Here is the press release from Stats NZ
A boost in new apartment consents led to an 11 percent rise (seasonally adjusted) for new dwellings consented in November 2013, Statistics New Zealand said today.
Excluding apartments, the seasonally adjusted number of new houses fell 0.5 percent.
In unadjusted terms, 1,775 new houses and 492 apartments were consented in November 2013.
“November saw the highest number of apartments consented in a month since April 2008; however, apartment numbers usually fluctuate from month to month,” industry and labour statistics manager Blair Cardno said.
Auckland accounted for 34 percent of the consented houses and apartments in November, and Canterbury accounted for 24 percent.
“The trend for new houses has been increasing since early 2011, and is at its highest level since early 2008,” Mr Cardno said.
And here are the total numbers for Auckland dating back 1994 showing that consent numbers are recovering but still are a long way below their peak in mid-2004.
What’s also noticeable in the data is that there has been a noticeable increase in the number of consents issued in apartments with the annual number being approved over 3 times what they were just a few years ago – but that’s still only 20% of what they were at the end of 2004. Unsurprisingly most apartments that have been consented in the old Auckland City Council area with it accounting for 48% of those consented over the last year, 54% over the last 5 years and 71% over the last 10 years.
You may also remember the council has said there needs to be an average of an extra 10,000 dwellings a year to support the population growth expected in Auckland. We’re still a way off that yet but at least things are going in the right direction.
I almost fell out of my seat when I read this article from the herald this morning on the numbers with them including a number of positive comments on apartments including these ones.
Apartments could be the answer for financially strapped Aucklanders trying to get into the property market as the number of apartment building projects soars.
Real Estate Institute chief executive Helen O’Sullivan said she had seen a surge in apartments on the market in Auckland and expected the trend to continue.
“There is plenty of demand in Auckland for property and most people are looking for properties in locations which are relatively central.
“The reality is, given how little space there is left in those areas, to build on any scale they need to be in apartment-style developments.”
Apartments were no longer “horrible, ugly boxes” like many previous developments but were often comfortable, attractive places to live which were generally cheaper than stand-alone houses.
That’s a far cry from the anti apartment hysteria they ran during the Unitary Plan debate and I agree with Helen that the quality has improved quite a bit in recent times. This is noticeable on many of the apartments we have seen pop up recently and we’ve created a development tracker to keep an eye on them. There are over 3,500 dwellings that are under construction or have been proposed.