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Departments/Innovation By John Beveridge, Business Advisor, Auckland
Disrupting the housing model
What if there was another way to provide houses that people can comfortably a ord? John Beveridge shares his ideas for open-source housing that could inspire the Millennial Generation.
The view is free, but owning a home in Auckland is out of reach for many young buyers.
The New Zealand detached house building market has remained largely the same, as there has been little incentive to change. Higher cost trends include bigger houses, indoor-outdoor living, media rooms and better insulation. Regulation and red tape add further to the overall cost.
Each month, the entry bar is moving higher as new suburbs emerge in Auckland full of $1 million+ houses that rst-home buyers can’t afford. Now, new financial regulations on borrowing are providing further headwinds.
Nowhere can I see the disruptive change that has turned so many other traditional markets upside down. Things like the emergence of the digital age and the likes of iTunes, Uber and Tesla electric cars.
Our youngest and brightest aspire to entrepreneurship in areas like technology with a vibrant start-up community doing all sorts of great things, but there is not much in the world of bricks and mortar.
Competition for open-source solutions
I have an idea to get the short attention span of some of these bright young sparks. Run an
THE SOARING COST of land and housing in Auckland is cause for much debate and angst. Today’s youth look set to become the rst New Zealand generation that will not aspire to home ownership as attitudinal changes and cost puts it out of reach. This is a major disruption to our Kiwi way of life.
Headwinds hurting young buyers
The market has responded to an ageing population with the emergence of new products like the right to occupy retirement villages. In contrast, little is emerging at the rst-home end of the market other than a life of renting.
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