Hot Demand In Hawke's Bay
Hawke’s Bay’s population has risen by 10% in the past 5 years to surpass 160,000 – a staggering increase that has seen huge pressure on housing supply. The local economy is booming and with businesses expanding, people are flocking to the sunny district for work.
However, due to the buoyant tourism, viticulture and agricultural sectors, a lack of housing supply to support the growing population means there are hundreds of locals housed in emergency housing. This winter 158 hotel rooms across 12 hotels were used for emergency housing and the region’s leaders asked the Government to step in to help.
However, not much progress has yet been made and the supply and demand imbalance has meant significant value and rent increases, putting further pressure on the region’s renters.