The Big Change Over
SOME CONFIDENCE AT LAST
The Auckland City Council edict on Urban Design is welcomed and has been greeted in my office with a gasp of relief!
Reference by Mayor Hubbard to “Melbourne and Copenhagen turned their cities around – if they can do it, so can we” represents a quantum change in philosophical thinking.
Where the Council has, frankly, run scared of challenge and litigation we are now facing a “just say no” and “bring it on” if you want to sue us.
Developer Patrick Fontein is right in his advice that no developer is going to challenge the Council. Some may, but their product will be tainted and seen as detrimental to where we are now going
Fast Tracking and Awards for good urban design are simple and obvious initiatives that will not only work - “Awards” will become an immediate and coveted marketing tool that will prove hugely beneficial to our City.
I predict this sudden confidence in who we are and what we have is going to be reflected through the country, politically as well as socially.
We will watch carefully for transparency and commonsense but a new stage has been set for Auckland and we are very excited.
WHAT WILL IT BRING?
A blast of confidence for the City Apartment Market with our appeals for a City to be proud of finally answered and some curious effects likely.
We fear the Council has misinterpreted our criticisms of current Apartment Standards as to criticism of size. This is not so and the Council is now leaning toward minimum standards based significantly on size. Our criticism has been on design, bedroom size, safety and aesthetics, not apartment size.
If the Council now stipulates unrealistic apartment sizes new developments will be priced off the market. A mooted two bedroom size of 80m2 is likely to have to sell for $600,000 with one carpark – and there is a very limited market for this.
Acceptable sizing is 25m2 for a studio, 35m2 for a one bedroom, 60m2 for a two and 90m2 for a three and these units, attractively designed, will continue to be affordable and meet a growing appetite (particularly now that the “slum phenomenon” is hopefully over.
A curious effect will be an investor rush at good but very small suites (which currently sell from $100,000) as unrepeatable. These units rent from $220 per week and also represented a wonderful “first home buyer” opportunity for the young.
AUCKLAND'S CBD APARTMENTS
Look for mop up time (one year?) then a rapid escalation in values (to catch up to the new standards of replacement costs) and a resurgence of investment in the upper end, quality city living.
MARTIN
