If current net migration levels persist in Auckland, the increase in housing construction will not dent the current housing shortage. New Zealand's population growth from net migration has more than quadrupled in 2013, reaching 61,234 at the end of September 2015; it highest level since records began in 1922. This growth has put significant pressure on the Auckland’s housing supply, where the the last two years census showed the average household was occupied by three people. While the Ministry of Business Innovation and Employment’s latest National Construction Pipeline Report is predicting an increasing number of building consents for new dwellings to be built in Auckland in the next five years, this is unlikely to make up the market shortfall in the near term.
If current net migration levels persist in Auckland, the increase in housing construction will not dent the current housing shortage. New Zealand's population growth from net migration has more than quadrupled in the last two years, reaching 61,234 at the end of September 2015; it highest level since records began in 1922. This growth has put significant pressure on the Auckland’s housing supply, where the 2013 census showed the average household was occupied by three people. While the Ministry of Business Innovation and Employment’s latest National Construction Pipeline Report is predicting an increasing number of building consents for new dwellings to be built in Auckland in the next five years, this is unlikely to make up the market shortfall in the near term.