Video will play in Play now Don't auto playNever auto playPrime Minister John Key has stood by comments that people need to look to apartments as a first home option - despite 35 Auckland property projects collapsing in the past year. "I think apartments are a very credible alternative for people to buy. The Herald revealed today that 35 Auckland multi-unit residential developments have been cancelled in the last year, including apartments, terraced housing, townhouses and residential projects. Housing Minister Nick Smith said he did not think there was a significant trend of more developments being scrapped. We've had 20 per cent compound growth in Auckland in the construction sector over each of the last four years.

Source: New Zealand Herald October 10, 2016 21:33 UTC