Construction Boom Impact

The construction boom is having an impact quite quickly. Caution with these charts until there are more than 2 x 2020 data points.

Many regions have moved from big shortage to less shortage so NZ as a whole has more listings than 2018 and 2019.

While WellingtonCBD has moved from shortage to equilibrium. However this is the beginning of the year, so results may be skewed, but the early indication is dramatic.

Wellington is skewed by a single building with a few hundred single room apartments coming online this week, there were 50 for rent on the weekend, so I will monitor how soon they are filled.

By region the market is still short, but overall it is actually in equilibrium, it's just that rentals are in the wrong places, like Auckland and Christchurch. It’s a pity, but Auckland is where HNZ is concentrating their building effort.

Jonette 2011