What's so special about character

Mario Andres Fernandez, Shane Martin, David Norman
Auckland Council Chief Economist
Publication date:

Properties sell at a premium for having been upzoned or for being located in a designated special character area (SCA), but not both.

Over the last few years, the observable premium for properties in SCAs has been falling, and the premium for being upzoned has been increasing.

Thus, it appears that buyers are placing increased emphasis on what they can do with a property, and less emphasis on the designated special character of the neighbourhood.

Insights. Topical commentary on the Auckland economy