Post by Brent George on Dec 6, 2021 1:07:51 GMT
All eyes have been on escalating house prices in recent years, but land prices have climbed to new heights, too.
The cost of the land is a key component in the price of a home, and when land to build on is scarce, or in high demand, it puts pressure on prices. To avoid this, growing cities need a responsive supply of suitable land to build on.
But that has not been the case in New Zealand over the last few decades.
Reserve Bank Governor Adrian Orr says restrictive land zoning, tight planning rules, lack of public infrastructure for new developments, and complex consenting processes have contributed to an unresponsive supply of land.
Stuff - Real Estate: 5-Dec-2021
The cost of the land is a key component in the price of a home, and when land to build on is scarce, or in high demand, it puts pressure on prices. To avoid this, growing cities need a responsive supply of suitable land to build on.
But that has not been the case in New Zealand over the last few decades.
Reserve Bank Governor Adrian Orr says restrictive land zoning, tight planning rules, lack of public infrastructure for new developments, and complex consenting processes have contributed to an unresponsive supply of land.
Stuff - Real Estate: 5-Dec-2021