Auckland apartment developer Marty Kells said some overseas players were ratcheting up unit prices. Apartment buyers are struggling at precisely the time when the Government/Auckland Council Special Housing Areas plan should have provided thousands of new places. Phil Eaton, Property Council Auckland branch president and managing director of project managers Greenstone Group, defended apartment price rises, saying developers were justified in asking for extra. Price rises had hit only a few out of 200 planned Auckland apartment projects, he stressed. Helen O'Sullivan, chief executive of apartment developer Ockham, bristled at the spectre of price rises.

Source: New Zealand Herald November 25, 2016 05:24 UTC