Lack of land 'stifling' Waitara
Sunday 11 July 2004
A shortage of land for housing in Waitara is stifling the growth of the town, says the Waitara Community Board chairman.
By The LandlordColin Williams said Waitara desperately needed more subdivisions to meet the demand for residential sections.
There was hardly any land available in the town for people to build homes, he said.
The development of the former Waitara freezing works and the Pohokura gas field means more people will be moving to Waitara for jobs.
"There's already a demand and there'll be one in the future, there's no doubt about it," Mr Williams said.
He said private land owners on the outskirts of town should be encouraged to subdivide.
Read More - Opens in a new window
Commenting is closed
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.