Volcanoes of Auckland : Panmure Basin Auckland. Photograph/Richard Robinson
Volcanoes of Auckland : Panmure Basin Auckland. Photograph/Richard Robinson
The latest qv.co.nz E-valuer quarterly Property Report figures show Auckland home values are still rising, just not as quickly when compared to this time last year.
The super city now has a total of 99 million dollar plus suburbs and just three suburbs under $500,000. (not all are listed in the report).
With much of the new Auckland Plan now operative, it's over to developers to take on the task of increasing the housing supply on land zoned for greater intensification. It is hoped this will provide more "affordable" housing options.
The Tamaki Regeneration Programme, with the backing of central and local government, is already exemplifying how intensification can achieve this - and how it can be done in a way that can have positive outcomes for communities.
Over the next 15 years, this programme will see around 2500 of the existing 2800 social houses in the Tamaki suburbs of Glen Innes, Point England and Panmure being redeveloped to deliver approximately 7500 new dwellings.
The programme's portfolio has 170 hectares of prime urban land that is 15 minutes by car from Auckland's CBD with its own coast, parks and amenities.
It already has established transport links including two train stations so typifies the sort of land zoned for intensification under the Auckland Plan.
The majority of the 2500 former state homes that will be redeveloped are dated single dwellings on single sections. These sections can be redeveloped to site up to four new dwellings under the scheme.
The new homes will be a mix of one, two, three, four and even five-bedroom properties - replacing all the social houses, and providing new affordable housing and private market housing within each neighbourhood.
The new homes will incorporate a range of housing types including stand-alone houses, townhouses and terrace style dwellings as well as apartments.
Panmure Transport Interchange. Photograph/Natalie Slade
The Tamaki Regeneration Company says the project is about regenerating the communities by replacing old damp state houses with new, warm, dry and architecturally designed homes that take best advantage of the natural and built surroundings, beautifying green spaces, connecting streets with new walkways and upgrading existing community facilities as well as creating new ones.
As well as facilitating job training, employment and business pathways, the programme aims to achieve physical, economic and social benefits to the area.
Early stages of development have been focused in Glen Innes, but planning is under way for projects to commence in Point England and Panmure.
As old state houses are demolished, tenants who wish to stay in the neighbourhood are being moved into new social housing as first priority.
It's likely the Tamaki Regeneration Programme is contributing to value growth there as the suburbs are seeing the highest rate of percentage growth of any suburbs in the Auckland region since the previous peak of 2007.
The qv.co.nz median E-Valuer for Glen Innes has risen 129.3 per cent from $418,500 in 2007 to $962,950; while Point England has jumped 126.6 per cent from $397,500 in 2007 to $900,550. Wai O Taiki Bay (coastal GI) has also risen 124.6 per cent from $528,600 to $1,189,850 since 2007.
Homes being built as "affordable" under the scheme are selling from $479,000 for a one-bedroom to $650,000 for the affordable two-bedroom starter homes, designed to easily add an extra bedroom or garage later, and marketed to meet the price cap for the Welcome Home Loan.
