NZ Property Investor

THE RISE AND RISE OF TOWNHOUSES

Greater intensification in the country’s main cities has prompted a huge increase in demand for townhouses and they are now the dominant housing type being built across Auckland.

As the quarter-acre dream slips away for many people, more buyers are open to living in townhouses on tiny sections to be near main centres.

Townhouse developments, both big and small in scale, are popping up everywhere to satisfy growing demand. They are defined as a dwelling, generally having two or more levels, and attached to other similar units via shared walls.

Statistics New Zealand’s latest building consent figures show the trend towards townhouse developments is all encompassing across the country. Over the year to March, 25,475 multi-unit homes were consented, overtaking the 25,383 stand-alone houses that were consented.

More than 43 per cent were consented in Auckland, mainly because the 2016 Unitary Plan allowed for higher density and heights in residential areas, which has resulted in hundreds of townhouse developments to cope with the city’s growth.

According to Auckland Council figures, about two-thirds of all new building consents are for

You’re reading a preview, subscribe to read more.

More from NZ Property Investor

NZ Property Investor1 min read
RENTAL & SALES STATISTICS MAY 2024
The key to any good Investment is Information. NZ Property Investor magazine, with the trusted data supplied by Corelogic would like to show you how you could use this data to optimise your next investment search. Then consider what the rent and valu
NZ Property Investor4 min read
When Gst Stands For 'Getting Seriously Tricky'
If you rent out a property on a short-term stay basis via a platform like Airbnb, you will have been contacted recently to disclose your GST registration status to the platform. This is because from April 1 there is a new regime in place when it come
NZ Property Investor2 min read
Pros/cons
HIGHER RENTAL YIELDS: Commercial real estate has historically offered higher rental yields than residential real estate. This makes commercial properties attractive to investors seeking regular income streams. LONGER LEASES: Commercial leases tend to

Related Books & Audiobooks