NZ Herald business editor at large

The Economy Hub: Housing boom has two years to run

Auckland's property boom looks set to run on for at least two years according to investor and commentator David Whitburn.

Speaking on The Economy Hub's housing affordability special Whitburn said a combination of interest rates staying lower long term combined with record high migration and chronic under building meant there was at least a couple of years growth in the Auckland market.

Watch the full video below

Co-panelist, Auckland City council chief economist, Chris Parker agreed there was no immediate sign of the soaring price abating.

Both Whitburn and Parker see supply as the fundamental problem for Auckland's market although both see demand side solutions like mortgage lending restrictions as useful tools in the short term.

• Explore our interactive: Where in New Zealand can you afford to buy a home?

"I was hoping that they had leveled out but recent data shows were in the same pattern, the same place we were a year ago."

Both Whitburn and Parker see supply as the fundamental problem for Auckland's market although both see demand side solutions like mortgage lending restrictions as useful tools in the short term.

"We need more terraced houses and more apartments at lower prices," Whitburn, who is managing director at Fuzio Projects, says.

Video

- NZ Herald

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