13 Nov 2012

Prospect of 10% fall in house prices seen

10:40 am on 13 November 2012

An Auckland property developer says attempts by the Government to make housing more affordable may lead to house prices falling by 10%.

Leigh Hopper, whose family started Hopper Developments in the early 1950s, says the call to free land up for housing and strip back red tape is long overdue.

But he told Morning Report that custometrs may have to learn to live in smaller homes and more intensively built-up environments.

He said costs and delays are not working for developers or consumers and district plans are now overly complex.