CFolumcmtuantitiyng MGraorwkteht

I Ah s av I e loboe k ea n rofoulnlo d wtinh g e nKeawp s itisCtoraiesst a I bsoeu e t mtheanpyrohpoeurs ty e mbuairldkein t g wshiitcehs, hanv d e laaprgpe r ardee d ve in loopum rm enetdsi . a Cohvaenrges th to e tlahs e t Dfei w stryice t aPrsla . n Tahn ey d dbeusilcdriinbg ean inrecgreualast e io in s hio n urse e cepnritcyee s a in rs ghraevaeter Amucakdl e an it d paons d sitbhle tr o enb d uis ld prmeaudltiinpgle to h omtheruunrib ts an on cesnitters es wahnic d hthwee n reto previously only oneresidence

smaller towns. Property owners

properties. Apartment and townhouse

have found it attractive to sell their complexes are in various

properties at a high price and

stages of construction, taking

move to a smaller town where the

fuller advantage of that scarce

runaway prices haven’t yet caught

commodity: land.

up. It’s called “leveraging equity”. It’s amazing how much growth has

It will be interesting to receive

occurred in towns like Taupo over the

projections from the 2023 Census

last ten years, much of it fuelled by

when they are made available.

Aucklanders moving south, buying a

Three years ago a BERL report for

new home with the equity from their

the Kapiti Coast District Council

previous house sale, and having cash

indicated that Kapiti’s population

left over for their retirement. This

of 55,000 would grow by 40%

same effect is now replicating over

to 77,000 in 2050. At a ratio of 3 mpoeso t po le fN pee w rh Zoeuaslaenh d olad s ,t thha e t “mbaebayns

boomers” cash up and head towards

about 7,000 more homes will

retirement.

be required to house everyone. HEocuosn e obmui c ldjionl g ts hfaro s m noC t omva id tcahned ddeemmanadn . ds Oetlhs er wfahcetro e rs reis n utlhti e ng mfirxom hwave e atihncel r uedvee d nhtsigw h iliml umnidgorautbiotne,dly aanf d feyco t uanv g aiplaeboiplit le y aolfsw o owraknetrisn. gto purchase their first homes. For many,

Also, a major significant influence

the first home of choice is a new

must surely be shortages and

one. This has been made affordable

higher prices of materials in the

by very low interest rates, enabling

construction industry.

home ownership at a high place on

The growth of our community

the property ladder. A generation

will require more community

ago most people aspired to climb the

facilities. More recreation areas,

ladder progressively, improving their

parks, arts and tourist attractions

house before trading up to a bigger

will be needed. One such amenity

home as finances permitted.

is the Whale Song project. I was Pfosrt-uCnoavti e d, to wohreld ar w a idp e recsoesn t tinatciroenases htahvi e s whie t eN k eo w n Zteha e lapnrdo , garens d s noe f wthis hhoumg es parro e jeecxttrwehmiceh ly weix ll pcernesaitve.thTehe lalasr t gfes w t yberoan rs ze hasvc e ulspeteu n rem s o in rttghaege inwteorrelds , t arantd es wihnicrheawsiiln l g be to pnlaocwed in ptahi e nfcue l nletvrelso , f aKna d pim ti afno y ra wlh lt o ssteaert.ed wTith h is loa w loninetewreils l t br e at a es maarj e or ntoo w urfiisntding thaett ir ahcotimon e , ubnrainffgoirnd g aboluet.siders from New Zealand and overseas into the

Inacrereaa. sed redundancies in the Public Service are expected to take more steam out of the property market,

I encourage everyone to view the

especially in Wellington, a public

Whale Song display in Coastlands,

service city which had appeared

to get an idea of how big the iminmstuanll e d to smcuolp st tusrheoscw ks illsbinec . e Ththeen, slheat’r s e gm et abrkeeh t incr d at sh e op f r1o9je8c7 t . aMndaybe the lc p hia t nbgeicno g mfin e a ncmiaa l joc r limboao te st wfiollr aKttarapcit t i’smaom re einivteiessto. rs in to address the severe shortage of rental properties.