Kiwis may expect a surge of house price rises due to the worsening shortage of supply.
• Acc. to Statistics NZ, the number of new dwelling consents continues to decline for 7 consecutive months, falling well short of new homes needed.
• Though consents issued rose from 2379 to 2418 in a year, they have declined since August 2016, as seen in Auckland, Waikato, Wellington & Canterbury.
• Auckland has the most acute housing shortage with just 800 new dwelling consents issued in February, well below the 1,250 target.
• The total value of new dwelling consents issued in February was $912 million, down 1.5% compared to $926 million in February 2016.
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