With prices rising in Auckland far beyond the average families affordability something has to change. As stated in the Auckland plan post ; the council has stated Auckland’s future will be in medium density housing.
Although the unity plan (the official rules and regulations) wont be released until September 2013, the large development companies are already getting excited and have started planning.
The vision is for blocks ranging from 4 – 12 units and no more than 4 storeys high will be built surrounding key train stations. The Auckland plan outlined areas the council wants to see major development happen; metropolitan centres and town centres will be the areas of the biggest change. Already we have seen major development to New Lynn where the council plans a walk able town centre plus easy public transport connections so that residents may never even need to own a car.
Areas such as Glen Eden will see a change in Glen Mall, and housing will most likely be town houses. This will no doubt push prices up and changing the demographic of the area. Already larger sections in Glen Eden on the city side of Pleasant rd are selling for prices above $600 000 showing that as people are being priced out of the city fringe suburbs they are moving into more luxurious houses in the lower social areas.
My favourite area however is Avondale. I believe Avondale is the perfect place for medium density housing. I have already found numerous large sections within walking distance of the train station and shops. Prices are still low enough to make development economical and as stated in my first ever post Avondale is in prime position with access to 2 motorways, city train connections, Pt Chev, Mt Albert and New Lynn.
Buying up large blocks of land near train stations and land banking is one possible strategy for the smaller investor.