The Hidden Architecture of Property Markets

Abstract

The current property market is being driven by a multitude of unique situations which will become part of New Zealand’s history. The devastating earthquakes in Christchurch have caused many people to lose their homes and livelihoods. However, the rebuild of the city has brought with it a great number of new jobs and over 25,000 new houses into the market¹. Auckland has experienced a record high for residential sales and prices, which has in turn created a huge demand for New Zealand’s largest city².

Wellington’s property market remains steady with little variation occurring over the past few years³. However, it has been experiencing significant pressure from the events of Christchurch and Auckland, with many people relocating to the capital to get away from the destruction and hugely inflated house prices. This, in conjunction with other factors leading to an increase in Wellington’s population⁴, has seen a significant increase in demand for housing in Wellington, which needs to be met by new housing projects.

Wellington’s current housing density is relatively low, with suburbs sprawling outwards from the city centre. The current density of Wellington City is 37.8 persons per hectare while Auckland City has a density of 43.1 persons per hectare, both of which are much lower than large developed cities like New York which has a density of 120.3 persons per hectare. Accordingly, the answer to the increasing demand is to increase Wellington’s housing density. This need for increased housing density has also been recognised by the authorities and has been a crucial driver dictating the Wellington district plans in an attempt to create a more compact, versatile and sustainable city. However, there are factors that are slowing this densification, including New Zealand’s culture and, in particular, the “quarter acre dream”. Consequently, apartments and other high density housing have negative connotations and are still seen as a limit on our outdoor-focused lifestyles. This research explores the New Zealand cultural model imbedded in the local vernacular. This vernacular lies in the rural, awe-inspiring image of agricultural buildings standing alone in the landscape. Moreover, the study of suburban sprawl also gives insight as to how a multi-unit development in Wellington City can operate without limiting the New Zealand culture.

The resulting design is a multi-unit development with site-specific considerations which draws precedent to the New Zealand vernacular. This project looks to cater to different family types while increasing the density and diversity of the area. The development has been financially analysed to determine the feasibility of the project for real world application. The design looks to find a compromise between quality and financial results so that both buyer and developer can benefit from the outcome.