Kupe boom starts with shortfall in housing

Sunday 24 October 2004

South Taranaki will face huge problems coping with the projected influx of workers for the Kupe gas field project, real estate and rental housing agencies forecast.

By The Landlord

Hawera and other South Taranaki urban areas are already experiencing a critical housing shortage, with long waiting lists for rental accommodation, they say.

The shortage is so bad that even the Kupe project's boss, Origin Energy regulatory and environment manager Mark Rogers, cannot find a fully furnished house to rent, so instead is living in New Plymouth.

Investors from outside Taranaki are already busy buying up housing stock for use as rental accommodation, in anticipation of the start to the Kupe development.

Things look certain to be made even busier by this week's forecast requirement of up to 850 short-term workers – with up to 300 to be employed on site, about 10km from Hawera – for the Kupe development, due to begin in the middle of next year.

Read More - Opens in a new window
Commenting is closed

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Resilience needed in face of change

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 slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer