Property

Auckland businesses should look to the regions: Chamber

A solution to Auckland’s housing affordability crisis could lie just outside the city’s boundaries, a business lobby group says.

Tuesday, April 09th 2013

Quotable Value’s latest statistics, released today, show Auckland house price growth continues to escalate, with prices now 11% up on a year before.

Valuer Kerry Stewart told Landlords that it was nearly impossible for most first-time buyers to get into the Auckland property market.

By comparison, prices in most regional centres are flat, or only up slightly.

Rotorua's prices have risen just 0.5% over the past three months and Whangarei's are down 0.9% over the same period.

The Northland Chamber of Commerce said businesses should be encouraged to consider moving into the regions – to help the firm’s bottom line, boost the regiond and provide an attractive lifestyle for employees.

Chamber chief executive Tony Collins, based in Whangarei, said: “Commercial rents are lower and  average house prices are half what they are in Auckland. But we’re less than two hours’ drive away.”

Media firm APN moved its financial hub to Whangarei and reported cost savings and reduced staff turnover.

Collins said a redistribution of industry throughout regional New Zealand would take the heat out of Auckland’s housing market.

He said that would be a much more effective solution than the macroprudential tools the Reserve Bank is considering, or a hike in the official cash rate.

Comments

No comments yet

Most Read

SBS FirstHome Combo 4.29
Unity First Home Buyer special 4.29
Co-operative Bank - First Home Special 4.85
China Construction Bank 4.85
ICBC 4.85
TSB Special 4.89
Kiwibank Special 4.89
ASB Bank 4.89
Westpac Special 4.89
BNZ - Std 4.89
AIA - Go Home Loans 4.89
Nelson Building Society 4.93
ICBC 4.95
SBS Bank Special 4.95
China Construction Bank 4.95
Wairarapa Building Society 4.95
TSB Special 4.95
ANZ Special 4.95
ASB Bank 4.95
Kainga Ora 4.95
Westpac Special 4.95
AIA - Go Home Loans 4.95
SBS Bank Special 5.39
Westpac Special 5.39
ICBC 5.39
Co-operative Bank - Owner Occ 5.59
BNZ - Std 5.59
BNZ - Classic 5.59
AIA - Go Home Loans 5.59
ASB Bank 5.59
Kainga Ora 5.69
Kiwibank Special 5.79
ANZ 5.79
SBS Construction lending for FHB 3.94
AIA - Back My Build 4.44
CFML 321 Loans 4.99
Co-operative Bank - Owner Occ 5.95
Co-operative Bank - Standard 5.95
Heartland Bank - Online 5.99
Pepper Money Prime 6.29
Kiwibank - Offset 6.35
Kiwibank 6.35
TSB Special 6.39
ASB Bank 6.44

More Stories

Four decades of 6-7% yearly house price growth ending

Friday, March 21st 2025

Four decades of 6-7% yearly house price growth ending

New Zealander’s reliance on property capital gains in the mid-single digits is at an end.

[TMM Podcast] Yelsa serves up “marine reserve” of property buyers

Friday, January 31st 2025

[TMM Podcast] Yelsa serves up “marine reserve” of property buyers

It’s been years in the making and former real estate agent Mike Harvey is now coming to market with his platform matching buyers and sellers, an offering he says will be a gamechanger for the industry.

Leaving last year's stumbling housing market behind

Friday, January 17th 2025

Leaving last year's stumbling housing market behind

As interest rates ease and job losses climb, New Zealand’s housing market faces a mixed year of modest growth, with conflicting forces shaping the outlook for homebuyers and investors.

Don’t bet on house prices rising faster than incomes

Wednesday, January 15th 2025

Don’t bet on house prices rising faster than incomes

Former Reserve Bank Governor and National Party leader Don Brash says there are grounds for believing that house prices may finally have ended the three-decade period when they rose significantly faster than incomes.