"About 120,000 houses will go up in value by $100,000 to $200,000 but in more desirable suburbs, the value increases will be as high as $500,000 to $1 million," Thompson estimated.
Taking the figure of $200,000 and multiplying that by 120,000 properties gives the $24 billion figure, although some experts said many properties with single houses were already zoned for higher density and 120,000 properties was too many - only about 7 per cent of the 500,000-plus Auckland houses were zoned for apartments and terraces, so less than 50,000 properties would be affected.
Conor Roberts, external relations manager of New Zealand's biggest residential land developer, Todd Property Group in Quay St, agreed with Thompson that Aucklanders could get much richer.
But Todd wants rules for big developments relaxed to make building easier in a city desperate for thousands of new houses.
"As well as making small-scale redevelopments easier to do, the Unitary Plan needs to ensure rules for large developments enable more homes to be built in a faster timeframe. Making it easier for people to get on with building both single section houses and large size developments is the way Auckland will tackle the housing shortage," Roberts said.
Todd is building 5300 houses on two sites: most advanced is the $2 billion Mt Wellington Stonefields where 2600 houses/apartments will house 6500 people. Building is now starting at Long Bay on the North Shore where 2700 households are being created for about 7000 people.
"One of the untold positive stories is how good it'll be for home owners who have enough room to put another house on their section," Roberts said.
Under the Unitary Plan, Auckland Council has proposed Albany, Botany, Henderson, Manukau, New Lynn and Papakura will become metropolitan centres, where towers of up to 18 levels can be built.
Price hike
120,000 places tagged for intensive development
$100,000 the minimum values could increase
$1 million the maximum values could increase