Auckland's price response depended on how much extra capacity a site gained.

Expected appreciation declines with intensity in the most permissive zones but is flatter in the single-house zone.

FROM THE PAPERFigure 2 · Price appreciation by zoning intensity

Source: Greenaway-McGrevy, Pacheco & Sorensen (2021) · Figure 2; PDF p. 12

Keep in mind: This is an early land-price response, not a rent effect; redevelopment potential can be capitalized into land values.

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Expected appreciation declines with intensity in the most permissive zones but is flatter in the single-house zone.

Source: Greenaway-McGrevy, Pacheco & Sorensen (2021)
Figure: Figure 2 · Price appreciation by zoning intensity · Figure 2; PDF p. 12
Keep in mind: This is an early land-price response, not a rent effect; redevelopment potential can be capitalized into land values.

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