Q3 2024 Auckland Apartment Figures

Key Points:

• There were two apartment projects added to the pipeline and only one is currently being marketed for presale. The other one is a social housing apartment project and has obtained building consent.
• The overall social pipeline has declined from a peak of 51 projects in Q2 2022 to 24 in Q3 2024 as Kainga Ora activity drops off.
• The number of projects currently under construction has decreased by 7 over the past quarter, moving from 51 to 44.
• The total number of active apartment projects is 73, 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 4 projects, and the number of units dropped 295 units (moving from 938 to 643) due to the completion of Resido project in Sylvia Park.
• Presales have declined from 73 in the previous quarter to 22. Only two projects (both suburban) achieved more than 2 presales during the quarter.