Q4 2023 Auckland Apartment Figures

Key Points:

·   Quarterly presales were essentially stable, moving from 55 to 59, however this headline number masks an increase in activity for several high-end owner occupier projects. Several older and more recently launched projects have achieved a small number of presales each.  

· This is a positive trend but one that is diluted across a range of options. For almost all the projects, they are still some way off a financeable level.

· First home buyer and investor buyer activity is still restrained. This limits the market in which established developers can operate, heightening competition.