Increasing pressure on housing stock in next year

PHOTO: GENERATION HOMES – Of the urban centres only Tauranga had more sellers than buyers intending to be active in the next 12 months.

A widening gap between demand and supply has caused a shortfall of more than 30,000 homes in Auckland, a new report says.

A survey commissioned by Realestate.co.nz, which looked into buyer and seller intention to participate in the property market, showed there was growing sentiment to buy but fewer people were looking to sell.

Realestate.co.nz’s spokeswoman Vanessa Taylor said even by taking new builds into account, there would be a “serious shortage” of properties for keen buyers.

The flagship KiwiBuild policy is a promise to build 100,000 affordable homes within 10 years, half of them in Auckland.