How Many Homes Are We Actually Building?

Despite the whispers of a housing boom, the numbers tell a tougher story for New Zealand—and especially for those seeking an exclusive, freehold gated community in Taranaki.

In the year to December 2024, only 33,600 new dwellings were consented—down 9.8 percent on the prior year—yet economists agree we need around 38,000 homes per annum to balance supply and demand. That 4,400‑home shortfall piles relentless upward pressure on prices, rents, and land values.

1. Annual Consent Volumes vs. Target

   • Actual consents: 33,600 new dwellings (year to Dec 2024)

   • Required for equilibrium: ~38,000 homes p.a.

   • Shortfall: ~4,400 fewer homes than needed. This gap fuels the urgency for freehold land for sale in regions like Hāwera—where Kotare Estate offers a premium, gated lifestyle with legacy-level appeal.

     
     

2. Regional Variations in Consents

   • Otago: +2.1 percent year‑on‑year growth

   • Other regions: Falls of 5–15 percent in 2024 Provincial centers—often stalled by resource‑consent delays and infrastructure bottlenecks—contrast with tourism hubs and university towns that buck the national trend. source:https://www.stats.govt.nz/
     

3. From Consent to Completion

   • For every 100 consents, only 92 private homes are completed within 12 months.

   • Pipeline loss: ~8 percent stall or slip beyond a year

   • Net completions: ~30,900 homes built from 33,600 consents. Material shortages, labour gaps, and funding holdups mean even prompt consents don’t guarantee swift builds. source:https://www.mbie.govt.nz/

   

4. Consent Processing: A Mixed Bag

   • BCAs processed 92.7 percent of applications within statutory deadlines (median turnaround: 12.6 working days).

   • Statutory compliance: 94.6 percent met timeframes. Fast turnarounds help—but global supply-chain strains and interest‑rate headwinds still dictate how quickly consents convert to bricks-and-mortar.

     
     

Fast‑Track Reforms on the Horizon The Fast-track Approvals Act 2024 (Royal Assent December 2024) aims to slash months off major housing projects’ consenting timelines. If it delivers, we could see completion rates climb toward 95 percent—and consent volumes edging closer to that 38,000 target. source: https://www.legislation.govt.nz/

What This Means for You

• Buying freehold land right now means securing a foothold before prices surge further.

• At Kotare Estate, our gated subdivision in Hāwera combines investment property potential with lifestyle and security.

• Early‑bird purchasers benefit from legacy-level pricing—and with only five initial lots needed to kickstart construction, now’s the time to act.

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Ready to make your move?

🔗 Visit our homepage to explore site plans and lifestyle amenities.

🔗 Register your interest to lock in early‑bird incentives.

Further Reading

• 5 Reasons Semi‑Retirees Are Embracing Gated Communities

• Why Freehold Gated Communities Are the Future of Retirement

  

  
  

Next up: we’ll break down why these consent shortfalls matter for prices, rents, and your timing when buying freehold land—and how Kotare Estate positions you to profit from the gap.