The Auckland apartment market is so dire that a developer is renting instead of selling all the units in one new block.

Ockham Residential CEO William Deihl said all the new 10-level 77-unit Whetū in Pt Chevalier would be rented, not sold - sparking discussion about whether apartments have value in the current market.

Mt Hobson Group urban planning expert Hamish Firth says apartments can still suit Kiwi buyers - at a certain age and stage.

"Perhaps older people or downsizers, perhaps students coming through or perhaps young families with lesser amounts of kids. So I think that it's really good that we've got that variety of housing forms."

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