Auckland inner-city height restrictions weighing on supply, RBNZ's Wheeler says

Wed, 25 Feb 2015

By Paul McBeth Feb. 25 (BusinessDesk) - New Zealand's government has taken a number of good steps to improve housing supply in Auckland, where prices have soared on a lack of new stock, but could take a look at height restrictions in the inner-city to address the shortfall, according to Reserve Bank governor Graeme Wheeler. The nation's biggest city has a shortfall of between 15,000 and 20,000 properties to meet population growth, and the 7,500 annual consents for new building permits is lagging behind the 10,000 it needs to address the s...

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