Key Facts:

– Auckland’s population grew by 47,000 in the 12 months to June this year, driven by high levels of international immigration.
– There is an estimated average household occupancy of three people per dwelling in Auckland.
– To house the additional 47,000 people, an additional 15,667 homes would be required.
– However, only 15,263 new homes were built in the same period, leaving a shortfall of 404 homes.
– Over the past four years, the supply of new homes in Auckland exceeded the demand created by population growth by just under 35,000 homes.
– Immigration-driven demand is starting to outstrip supply, potentially leading to a return of housing shortages.

Article Summary:

Auckland is facing the possibility of another housing crisis as the recent surge in immigration-driven population growth outpaces the supply of new homes being built in the region. Statistics from Statistics NZ reveal that Auckland’s population grew by 47,000 in the 12 months to June this year, largely due to high levels of international immigration. On average, these additional people would require 15,667 new homes, yet only 15,263 new dwellings were completed in the same period, resulting in a shortfall of 404 homes.

This reversal of the trend over the last few years highlights the potential for a housing shortage in Auckland. From June 2018 to June 2021, the supply of new homes exceeded the demand created by population growth, with a surplus of 17,921 homes. However, since the reopening of immigration, particularly for overseas labour, the demand for new homes has seen a significant increase. The article suggests that Auckland’s housing market is at a turning point, where immigration-driven demand is starting to exceed supply, potentially leading to housing shortages and increased pressures on infrastructure and public services.

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