Ross Jami-Lee: Oral Questions — Questions to MinistersText is incorporated into the Bound VolumeRoss Jami-Lee: Oral Questions — Questions to Ministers[Sitting date: 05 May 2016. Volume:713;Page:10831. Text is incorporated into the Bound Volume.]6.JAMI-LEE ROSS (National—Botany) to the Minister for Building and Housing: What does the latest data show about the growth in residential construction in Auckland?Hon Dr NICK SMITH (Minister for Building and Housing): The latest building consent data for the year to March shows the fourth consecutive year of growth of over 20 percent. This is the longest and strongest period of growth on record. New construction of homes in Auckland bottomed out at 3500 per year but is now over 9500 per year. We have gone from an annual investment of $1.5 billion to now $4.1 billion annual investment in residential construction which in both real and actual terms is the highest ever on record.Jami-Lee Ross: What does the household labour force survey data out yesterday tell us about the growth in people working in the building industry in Auckland?Hon Dr NICK SMITH: Yesterday’s data shows that 80000 people are now working in the building sector in Auckland. That is a growth of 28 percent over the last year and it comes on top of growth of 12 percent in the previous year and another 8 percent in the year before. It shows the level of momentum that there is in new house construction in Auckland. It means there are 29000 more people working in the house construction and building industry than prior to the Auckland Housing Accord being entered into. One of the challenges with such growth is maintaining the quality of the building work. That is why we are responding with a big investment in additional apprenticeships and growth in investments in skills areas like engineering. But we also need to make sure that the building system and the regulations maintain the quality as well as the quantity.Jami-Lee Ross: What is the latest advice on house prices in the Auckland market and is he satisfied the market has cooled?Hon Dr NICK SMITH: The market does remain quite volatile but there is some reason for optimism. If we look at the latest Quotable Value values which is the largest sample size for the first time in 5 years they show no quarterly increase in the house price. The real estate data actually showed similar figures. I do express some caution about using just a single real estate agent’s numbers or just a single month’s figures albeit we will need to get a sustained period of lower house price inflation for the Government not to maintain its rolling maul of measures to grow housing supply.Phil Twyford: Why does he continue to trumpet the build rate in Auckland as some kind of success when a shortfall of 40000 dwellings has built up on his watch and the current build rate falls far short of what is needed even to house the 52000 net new arrivals in Auckland in the last 12 months?Hon Dr NICK SMITH: When the rate of residential investment in Auckland has gone from $1.5 billion a year which is what it was when Labour left Government to $4.1 billion a year—Phil Twyford: That was the GFC Nick. You’ve forgotten that.Hon Dr NICK SMITH: Oh they have discovered it. They have discovered that there was a global financial crisis. But when the rate of residential investment has gone from $1.4 billion to $4.1 billion a year only a whinger in the Opposition would take offence.