Supply and demand - dwelling keep pace with population

[donna]

Supply is keeping pace with population according to the data in this news item. NZ grew by 6% and housing by 9% in 2023 - is this why there's been a pull back on consents? We don't need more houses?


cheers,

Donna

[donna]

What's interesting is where the most population growth is occurring.



Source

Six areas have attracted greater population growth than the Wellington region, including Northland, Auckland, Waikato, Bay of Plenty in the North Island, and Canterbury and Otago in the South Island.

I suppose the main reason is the lack of government jobs. Plus, there's a lack of innovation and entrepreneurship in WGN. If you're going to be a digital nomad when you arrive here - there are more scenic and vibrant regions too - like Otago and Canterbury.

Canterbury and AKL are way ahead on population growth and no. of new dwellings, which exceed population growth by 10% and nearly 12%, respectively.

cheers,

Donna

[Sanya]

The data looks odd to me Donna.

Take the Auckland region.

The data shows the population grew 5.4%, while the number of dwellings grew by more than twice as much, up 11.9%.

Really?

Also, I didn't see mention or recognition that our border was effectively closed for 2 years, so with that in mind might that claim "New Zealand's population grew 6% in the 5 years to 2023 while the number of dwellings increased 9%" be a little deceptive?

[donna]

^^ I recall reading on PT a couple of years ago that too many houses were being built and that we would have an oversupply - looks like it really did work out that way.

It would be good to get a breakdown of the type of houses that are vacant. - McMansion anyone? In Wgn they have been building 100s of homes along the expressway corridor and now Transmission Gully - with more in the planning.

cheers,

Donna

[donna]

Some more interesting info....

2022 and 2023 were neck in neck for AKL and miles in front of other regions.



Re. commercial building consents - Offices make up the most (hard to believe), then health, education and factories, social, shops, hotels, hostels and prisons come in last.



cheers,

Donna