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Lack of quality apartments a risk for Auckland

Author
Michael Sergel,
Publish Date
Thu, 2 Jul 2015, 12:43PM
Apartments in Auckland- do they need a boost?
Apartments in Auckland- do they need a boost?

Lack of quality apartments a risk for Auckland

Author
Michael Sergel,
Publish Date
Thu, 2 Jul 2015, 12:43PM

A property expert is warning Auckland could be on the verge of a critical lack of high-quality apartments in the CBD.

About 600 apartments are expected to be built each year over the next four years.

Colliers International research director Alan McMahon says at least 640 apartments would be needed to keep up with demand.

"By 2035 we'll have over 50,000 people. Ten years ago it would have been about 15,000," McMahon said.

"We just need more land to be made available and processing of consents and the constructions to be accelerated."

Most developments only go ahead once the apartments have already been pre-sold.

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