The first step on the property ladder is looking further and further away, spawning a 'generation rent' in New Zealand, latest research shows.
Ockham Residential has snapped up a 2,832 square metre petrol station site hoping to make it home to 153 families in Grey Lynn.
One development and construction company urges the industry to just get on with it.
Construction cost inflation jumped 2.2% last quarter alone and doesn't look set to subside anytime soon on the back of rampant demand and constrained supply.