Q2 2024 Auckland Apartment Figures

Key Points:

• Seven apartment projects have been added to the pipeline but only two are currently being marketed for presale. Another two have obtained building consent, and we understand them to be proceeding without presales. The other three additions over the past quarter are social housing apartment projects being undertaken by community housing providers. 
• The overall social pipeline has declined from a peak of 51 projects in Q2 2022 to 26 in Q1 2024. 
• The number of projects currently under construction has decreased by 9 over the past quarter, moving from 60 to 51. 
• The total number of active apartment projects is 82, down from a peak of 183 in Q4 2021. 
• The build to rent pipeline has dropped from a peak of 14 projects in Q2 2022 to 5 projects, however the number of units is near peak because of increasing individual project scale. 
• Presales have increased from 41 to 73. Projects that have achieved 5+ presales each over the past quarter are mostly projects nearing completion, but a couple are recent launches.