The OP is hardly advocating encroachment on green spaces. The OP was pointing out the folly in attempting to mitigate one class of house buyers, when the zoning is egregiously sparse for a metropolitan area.
Auckland is adding apartments, albeit not at a sufficient rate. Their rents are high enough to make building them profitable. What does that say? It means that local resident demand is high enough to support investment of high-density residential areas.
Auckland's demand is significantly fueled by speculative investors, to be sure. What props up the house prices are the Kiwi families moving to Auckland for better work opportunities.
What Sydney and Melbourne are experiencing is a lack of rental support for their high house prices. That cannot be sustainable.
Auckland is adding apartments, albeit not at a sufficient rate. Their rents are high enough to make building them profitable. What does that say? It means that local resident demand is high enough to support investment of high-density residential areas.
Auckland's demand is significantly fueled by speculative investors, to be sure. What props up the house prices are the Kiwi families moving to Auckland for better work opportunities.
What Sydney and Melbourne are experiencing is a lack of rental support for their high house prices. That cannot be sustainable.