Monday, May 09, 2016

A Tale of Four Cities

As a million plus city it is interesting to see how Auckland is doing and where it stands against comparable places.  Auckland is in the Australasian region and the three closest million plus cities are Sydney, Brisbane and Melbourne.

In the post-GFC construction boom differing policies have caused these cities, which all suffered from housing shortages pre-boom, to start building faster. Auckland Council has decided to make Auckland the most expensive place to build and we can see the results. 

Auckland - housing shortage forecast to extend until 2028*
Sydney - housing shortage may to extend until 2023*
Brisbane - housing shortage forecast to extend until 2018
Melbourne - housing shortage may to extend until 2018


* optimists are expecting a downturn by 2025, pessimists by 2022.  In the event of these predictions being true, Auckland faces a structural housing shortage and rent rises for a generation. 

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