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20 Jun 2018 2:24
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  •   Home > News > Business

    Auckland's housing shortage is being partly blamed on land owners sitting on empty fields while they wait to make a profit

    Auckland's housing shortage is being partly blamed on land owners sitting on empty fields while they wait to make a profit


    Research and Consulting Director for Colliers International, Alan McMahon, says the problem is that a lot of land sold in Auckland between about 2013 and 2016 was priced on the assumption house prices would continue to rise rapidly.

    Since then, house price inflation has slowed, while construction costs have risen.

    McMahon says that means some land owners can't sell for a profit, nor can they develop the land at a profit, so they're essentially sitting tight for now.

    © 2018 Newstalk ZB, NZCity


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