Goldmine in backyard of 85,000 Aucklanders

New data from Homes.co.nz shows there is potential to subdivide existing Auckland sections to create another 100,000 houses.

Across the city, 85,000 existing properties could be subdivided to become smaller than they currently are, carving off at least one other section in the process.

That would create 109,775 new properties, equal to an additional 20 per cent of Auckland’s housing stock.

It could be worth hundreds of thousands of dollars to those homeowners.

The cheapest mainland sections for sale in the outskirts of Auckland at the moment are priced at least $200,000. Within urban Auckland, it is hard to find one for less than $400,000.

The median value of an empty Auckland section is $648,000.

‘‘Not everyone is going to be ready to build new properties on their back section, but this analysis does illustrate the potential for intensification in Auckland if the right regulations and the economic conditions exist,’’ said Homes.co.nz’s chief data scientist, Tom Lintern.

The analysis used guidelines from the Auckland Council’s Unitary Plan, based on how many new properties could fit on an existing title.

In a zone with a minimum site area of 400 square metres, a 1200sqm section would be deemed to have the potential for two new properties plus the original on the site.

The properties are worth an average of $1 million at present.

The largest untapped potential was in the south and east of the city, in the ‘‘mixed housing suburban’’ zones, where there was the potential for 17,898 new sections to be carved off.

Property developer David Whitburn, of Whitburn Group, said it would cost about $150,000 for a two-lot, freehold, fee simple subdivision, including the council’s development contribution and the Watercare infrastructure growth charge.

Factors such as the slope, proximity to drain connections, soil conditions and flood plains would affect the cost, he said.