Multi-Unit Apartment and Townhouse Construction in New Zealand - Industry Market Research Report

Onwards and upwards: High-density housing has risen in popularity despite reduced stimulus

Multi-Unit Apartment and Townhouse Construction in New Zealand

The Multi-Unit Apartment and Townhouse Construction industry has displayed extreme annual demand fluctuations over the past five years. The industry has benefited from favourable demand across the residential building market for much of the period, supported by a combination of historically low interest rates, strong population growth before the COVID-19 outbreak and rising housing prices. An escalation in residential property prices over the past five years has encouraged first-home buyers to opt for higher density apartments and townhouses as a lower cost alternative to traditional house and land packages. In addition, the high cost of housing has forced many New Zealand households to rent rather than buy, which has encouraged property developers to invest in higher density apartment and townhouse construction.

Industry operators primarily construct apartments, duplex housing, semi-detached housing, flats and other attached housing. The industry also includes alterations, additions and renovations made to these buildings, and organising or managing construction for these residential building types.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.