‘Almost a perfect storm’: Auckland apartment construction declines again

Simplicity chief executive Sam Stubbs said it was “dangerous” for investors to assume house prices would go up. (Image: NZME)

Murray Jones

Mon, 30 Dec 2024

The number of Auckland build-to-rent projects in the pipeline has dropped again in the past quarter, according to the latest CBRE figures.Total units in active projects have fallen from 643 across four developments in Q3 to 352 across three projects in Q4 – a 45% drop. It represents a 62% decline since the peak of 927 units over 14 projects in Q2 2022.“It would be difficult to imagine a more difficult set of circumstances for the industry,” says Simplicity’s chief executive Sam Stubbs of the CBRE figures.“It’...

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