From the editor: 28 October 2021

New directions

Owning a home in days long past was usually a realistic goal for all Kiwis, young and old.

Now however, housing, its availability and affordability are ongoing hot topics. For countless young people, owning a home of their own will be an ongoing challenge.

The property market continues to rise, with the average house value increasing by 3.6 percent nationally during the three month period to the end of September. The latest QuotableValue figures show that the national average property value is now sitting at $977,456.

The second strongest value gain for the main cities during that time was in Christchurch with 7.7 percent growth. The average property value is now $702,215 in Christchurch.

That’s good news for sellers, but tough on those looking to buy their first home. New large-scale housing developments will provide more scope for buyers, as will a predicted gradual slowing in the rate of value growth in the foreseeable future.

So too will the proposed new law allowing, from August next year, buildings of up to three storeys on most city sites without any need for council resource consent.

The risk, however, is that in picturesque residential areas, of which there are plenty in the Garden City, unsightly big boxes all in a row will spring up and forever damage the character of the city.

Surely some restraints need to remain in place.