Back in the 1980s, inner city Auckland, outside working hours and before seven day trading, was pretty much a ghost town. People worked in the city but all lived outside it. In 1991 there were 1,200 people living in the CBD – now there is over ten times this number. We expect continued growth, particularly when the Wynyard Quarter is developed. Most of the people choosing to live in the city, tend to be younger, mobile and childless, but this likely to change. Older people, once their children have left home, are also starting look at this market. Inner city living is ideal for those that travel a lot, as it is much easier to lock up an apartment on the sixth floor and leave it, compared with a house in the suburbs. As a result apartments will become an increasingly important part of our overall housing stock.
