NZ heading towards housing 'oversupply' : BNZ

Tue, 08 Jun 2021

The breakneck speed of New Zealand housing construction, combined with slowing population growth, has seen the backlog of housing drop to roughly 12,000 a year, about a quarter of the estimated 44,000 houses still needed as recently as 12 months ago.BNZ Bank head of research Stephen Toplis said NZ is well down the road to overcorrecting housing supply and some areas could well be facing an oversupply in the near term.In its latest economic update, the bank suggests the current building pace can’t be sustained because of weaker population...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket up 0.3% after three falls

The S&P/NZX 50 Index closed at 12,761.35, gaining 37.98 points or 0.3%.

Graham Skellern 11 Dec 2024

Infrastructure

Cook Strait ferry uncertainty disappoints freight operators

No one's happy the process is taking so long.

Jem Traylen 11 Dec 2024

Cook Strait ferry uncertainty disappoints freight operators

Property

Winton 'stands to gain millions': MP

The proposed fast-tracking of Sunfield is 'cronyism', local MP claims.

Maria Slade 11 Dec 2024

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

Sponsored

Boost worker health, boost results

Research shows flexible workspaces improve health and productivity

Regus

More Property

Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024