Nationwide prices stabilise even as key projects languish
A year after RNZ first reported on Auckland’s stalled developments, some sites remain largely untouched even as the broader housing market shows tentative signs of stabilising
This comes against a backdrop of a stabilising wider market, with average home values across New Zealand unchanged in the three months to the end of November, according to the latest QV House Price Index, and virtually flat year-on-year – down just 0.1%, as almost two-thirds of territorial authorities now see values edging upward.
RNZ noted that the Epsom Central Apartments project, halted six years ago after Auckland Council found it had not complied with building consent, is one of the prominent unfinished sites.
The original partnership, Epsom Central Apartments LP, went into receivership in 2022 before being bought by Xiao Liu’s company Reeheng in 2023. Locals previously called the half-built block a “blight on the Epsom landscape” and said it had been plagued by rats and squatters.
In 2025, neighbouring business owner Forrest Tan said “no noticeable progress” had been made. He has since demolished his own building, partly for a future rebuild and partly because an earlier scaffolding collapse at the derelict site had damaged his property.
“This would be an ideal time to demolish [the building],” Tan said. “My site is now a clear, open space. Once my new building goes up demolition would be extremely difficult since it's a boundary-to-boundary structure on a busy stretch of road.”
When RNZ visited, there was still no sign of active work, although the precarious scaffolding had been tidied or replaced.
Seascape and suburban projects show mixed progress
In Auckland’s CBD, work has resumed on Seascape, the long-delayed tower billed as New Zealand’s tallest residential building. Construction was halted for about a year amid a dispute between the developer and builder in 2024, but contractors have now returned and Bayleys is marketing unsold units with the line “a new chapter begins”.
In Pukekohe, duplex frames on Valley Rd remain wrapped in scaffolding and fencing. Locals say the structures have stood for at least a year, despite listings in mid‑2025 stating completion was due “late 2025”.
In Mairangi Bay, a shell-like Beach Rd build that appeared stalled in 2024 is now moving again.
“It restarted about two or three months ago and is at quite some pace! Locals are relieved,” neighbour Nick Rogers said.
In Kingsland, The George townhouses on New North Rd have similarly shifted from bare framing and graffiti to an active site.
CSS Luxury Homes director Vinod Kumar Chawla said the project had been delayed by finance issues but was now due for completion in mid to late 2026.
“Many ups and downs but good times will come again,” Chawla told RNZ. “It's a good location, top class finishing… one of the best in the city.”
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