December 2024 Auckland Apartment Figures

Key Points:

• There were seven apartment projects added to the pipeline, of which only one is currently being marketed for presale. The majority of the remaining projects are social housing apartment projects, and one is intended for build-to-rent.
• The overall social pipeline has declined from a peak of 51 projects in Q2 2022 to 23 in Q3 2024, reflecting low activity from Kainga Ora.
• There are 47 projects currently under construction.
• The total number of active apartment projects is 68, down from a peak of 183 in Q4 2021.
• The active build to rent pipeline has dropped from a peak of 14 projects in Q2 2022 to 3 projects, and the number of units dropped 575 units (moving from 927 to 352).
• Presales have increased from 22 in the previous quarter to 34. Apart from one project located in the fringe area, all other presales have been achieved in the suburban submarket.