Hawke's Bay Property Investors' Association

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27-03-2013

No sign of improvement in Canterbury shortage

Landlords.co.nz

There is no let-up in sight for Canterbury’s housing shortage, according to ASB’s latest Cantometer report.

It says housing shortages are a constraint despite an initial lift in residential building activity.

The Cantometer compiles available data about the region into a series of sub-groups that reveal the state of the economy.

ASB Chief Economist Nick Tuffley said: “The level of non-residential consents remains very elevated and indicates strong demand ahead in the construction pipeline. In addition, continued lifts in residential building consents provided some offset the decline in non-residential consents.”

But new housing consent figures are dropping.

Tuffley said the pick-up in building activity had yet to make any meaningful difference to housing supply.

There is a steady inflow of migration into Canterbury, keeping pressure on prices.

Tags: nick tuffley

Source: Landlords.co.nz

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