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 LandlordHawera 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
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.