More than 13,000 new homes were added to Auckland's housing stock last year and the rate of new home building shows no sign of slowing down.
Auckland Council issued 13,197 Code Compliance Certificates for new dwellings in 2019, up 24% compared to 2018 and up 63% compared to 2017 (see graph below).
Code Compliance Certificates are issued when a property is completed and as the graph below shows, the number of new homes being completed in Auckland each year has more than doubled over the last four years.
It appears likely that the number of new homes being built in Auckland will keep increasing, at least for the next one to two years, because the number of new dwelling consents being issued is still rising and it generally takes up to two years for a dwelling to be completed after a consent is issued.
Last year building consents were issued for 15,154 new dwellings in Auckland, up 18% on 2018 and up 39% compared to 2017.
That suggests the number of new homes being completed in Auckland could hit around 15,000 a year some time in 2022, which would be an increase of 14% compared to the number completed last year.
The figures also suggest that while the number of new homes being completed is still rising, the rate of growth is slowing, although a peak appears to be at least a year or two away.
The figures also suggest the time lag between a building consent being issued and a code compliance certificate being issued is starting to narrow, which may be a sign that the capacity pressures which have plagued the construction industry in Auckland over the last few years are finally starting to ease, although there is not yet any sign of construction costs starting to come down.
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