It is not only first home-buyers who are casting a nervous eye at rapidly climbing property prices.
Sites in Auckland and possibly Queenstown could be land-banked for up to 30 years for schools.
The Ministry of Education must find space for 107,000 more school children in Auckland alone by 2040 and planned housing intensification means pressure will be felt within existing city limits.
Population growth areas in Auckland include Warkworth, Wainui, Silverdale, Albany, Long Bay, Kumeu, Whenuapai, Scott Point, Massey, Flatbush, Takanini, Clevedon, Drury, Pukekohe and Pokeno.
And in Auckland’s inner-city, apartment-dwellers are predicted to increase to 78,000 in 2040.
“Short term lead-in for land acquisition means in areas of growth and land scarcity, the ministry can have great difficulty locating suitable sites for new schools,” a ministry document notes.
“New school-site acquisitions normally have a lead-in of three to five years.”
Associate Education Minister Nikki Kaye told the Herald on Sunday that in some areas it made sense to look at buying land that wouldn’t be needed for 20-30 years.
Land could be leased out until required for schooling, or sold if plans changed.
– Herald on Sunday