Residential Construction, a market stretched to breaking point?

I have been saying for several months now that I believe that we are at the peak of our ability to build more houses.

Currently, both here in Canterbury and right across New Zealand, the number of residential building consents are coming through at record levels. Year on year, the three Councils in the greater Christchurch area are up by a combined 33% over the same period in 2020, whilst the market is up by 28% across all of NZ.

This is the greatest number of houses consented in New Zealand…ever. And yet, month after month the number of new dwellings being consented just keeps going up.

So, how much longer can we keep building at this rate?

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