Cool Charts

This chart compares the available properties for rent at each noted time with the numbers available on the day of the Christchurch Earthquake.  The shortage in Wellington, Hamilton and Tauranga that had existed prior to the earthquake had been just overcome, but has now grown to extraordinary proportions.

Canterbury construction madness is about to be duplicated in Auckland as retirees desert the city in droves.

I believe construction costs due to new regulations is the primary cause, e.g.:

° Earthquake strengthening

° Wind loading

° Double glazing

° Wall seals creating triple layer requirement

° All round insulation

° Scaffolding requirements

While these are all great ideas, they are not valued by second hand purchasers who compare completed houses with older houses as though they are the same.  Hence prices of second-hand houses are still lower than new, creating a shortage of total houses 

© Jonette 2011