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2019 Smartgrowth Development Trends Report

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2019 Smartgrowth Development Trends Report SmartGrowth: Development Trends Technical Report 2019 Including Housing and Business, Market and Price Efficiency Indicators to meet the monitoring requirements of the National Policy Statement on Urban Development Capacity (PB6 & PB7) Western Bay of Plenty District Tauranga City 2018 – 2019 Prepared by: Resource Management Team Policy Planning and Regulatory Group Western Bay of Plenty District Council City and Infrastructure Planning Strategy and Growth Group Tauranga City Council February 2020 Table of Contents 1. EXECUTIVE SUMMARY ................................................................................................................................ 5 RESIDENTIAL BUILDING ACTIVITY .................................................................................................................................... 5 RESIDENTIAL SUBDIVISION ACTIVITY ................................................................................................................................ 6 RESIDENTIAL DEVELOPMENT CAPACITY ............................................................................................................................ 7 RESIDENTIAL SALES AND RENTS ...................................................................................................................................... 8 DWELLING TYPOLOGY .................................................................................................................................................. 8 BUSINESS LAND AND ACTIVITY ....................................................................................................................................... 9 1 INTRODUCTION ........................................................................................................................................ 10 NATIONAL POLICY STATEMENT ON URBAN DEVELOPMENT CAPACITY MONITORING ............................................................... 10 2 SUPPLY AND DEMAND .............................................................................................................................. 12 NEW DWELLING CONSENTS ISSUED .............................................................................................................................. 12 NEW LOTS CREATED .................................................................................................................................................. 14 COMPARISON WITH SMARTGROWTH PROJECTIONS ......................................................................................................... 15 GROWTH RATES – LAND AVAILABILITY .......................................................................................................................... 18 OCCUPIED/UNOCCUPIED DWELLING RATIO .................................................................................................................... 20 3 DWELLING SALES PRICE AND RENT TRENDS .............................................................................................. 21 DWELLING SALES PRICE .............................................................................................................................................. 21 DWELLING RENTS ...................................................................................................................................................... 22 DWELLINGS SOLD ...................................................................................................................................................... 23 RATIO OF DWELLING SALES PRICES TO RENT ................................................................................................................... 24 RESIDENTIAL MARKET OUTLOOK .................................................................................................................................. 25 HAM – HOUSING AFFORDABILITY MEASURE ................................................................................................................. 25 4 RESIDENTIAL SECTION SIZE ....................................................................................................................... 27 TAURANGA CITY ........................................................................................................................................................ 27 TAURANGA CITY URBAN GROWTH AREA ......................................................................................................................... 28 HISTORICAL RESIDENTIAL SECTION SIZE........................................................................................................................... 28 DWELLING DENSITY IN TAURANGA CITY URBAN GROWTH AREAS ......................................................................................... 30 5 DWELLING TYPOLOGY............................................................................................................................... 30 TAURANGA CITY ........................................................................................................................................................ 30 WESTERN BAY OF PLENTY DISTRICT .............................................................................................................................. 31 NUMBER OF STOREYS ................................................................................................................................................. 32 NUMBER OF BEDROOMS ............................................................................................................................................. 33 FLOOR SIZE OF DWELLINGS .......................................................................................................................................... 36 FLOOR SIZE PER RESIDENTIAL BUILDING ......................................................................................................................... 38 CONSTRUCTION VALUE PER RESIDENTIAL DWELLING ........................................................................................................ 38 DWELLING CONSENTS ISSUED BY TYPE ........................................................................................................................... 40 6 PRICE EFFICIENCY ...................................................................................................................................... 42 HOUSING PRICE TO COST RATIO .................................................................................................................................... 42 RURAL-URBAN ZONE LAND DIFFERENTIALS ...................................................................................................................... 43 LAND CONCENTRATION CONTROL ................................................................................................................................. 44 7 BUSINESS LAND TRENDS ........................................................................................................................... 46 ZONED BUSINESS LAND .............................................................................................................................................. 46 BUSINESS LAND/POPULATION RATIO ............................................................................................................................ 50 INDUSTRIAL AND COMMERCIAL BUILDING CONSENTS ISSUED ............................................................................................. 50 NON-RESIDENTIAL BUILDING CONSENTS ISSUED BY TYPE .................................................................................................. 51 NON-RESIDENTIAL BUILDING CONSENTS BY CONSTRUCTION VALUE .................................................................................... 53 COMMERCIAL PROPERTY MARKET OUTLOOK .................................................................................................................. 54 ACCOMMODATION AND RETAIL MARKET ....................................................................................................................... 55 8 CURRENT AND FUTURE MONITORING REPORTS ....................................................................................... 56 APPENDIX 1 ...................................................................................................................................................... 57 EXPLANATION OF HUD/ MFE INDICATORS FOR THE NATIONAL POLICY STATEMENT ON URBAN DEVELOPMENT CAPACITY. ........... 57 APPENDIX 2 ...................................................................................................................................................... 62 EXPLANATION OF DEVELOPMENT TERMS ....................................................................................................................... 62 SUBDIVISION PROCESS ............................................................................................................................................... 62 BUILDING CONSENT ISSUE FOR DWELLINGS .................................................................................................................... 63 RESIDENTIAL GROWTH AREAS ...................................................................................................................................... 63 VACANT LAND .......................................................................................................................................................... 64 APPENDIX 3 .....................................................................................................................................................
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