Demand Outstripping Supply
The Dunedin City Council (DCC) estimates the city has a housing shortage of 1,500 homes within the urban area and forecasts this deficit will continue to deteriorate. The city’s population is forecast to grow by 13,500 people by 2054, with growth of 10,000 people occurring in the next decade.
To meet this demand, Dunedin requires 6,550 new homes over the next 30 years, 5,400 of which are needed by 2034. This means our residential construction sector needs to deliver 540 homes per year for the next 10 years. However, on average, the sector only builds 380 homes per year, leaving an annual shortfall of 160 homes.
Adding to the pressure, Dunedin also has the oldest housing stock of any major centre in New Zealand, with 20% of the homes built before 1920 and 45% of the homes built before 1941. Therefore, in addition to the 540 new builds per year required to accommodate population growth, a significant number of houses need to be replaced each year.
$4.5B in Infrastructure Investment — More Demand for Housing
Over the next 15 years, major projects will bring a surge of workers to Dunedin, further straining the housing supply:
- Notably, the $1.88b hospital build requires up to 1,000 workers to move to Dunedin from outside the city at the peak of construction.
- The Otago Polytechnic and the University of Otago are developing their campuses significantly and initiating new construction projects.
- The Dunedin Council has committed to spending $1.5 billion over 10 years renewing pipes and roads, upgrading pools and playgrounds and planning for the future.
Overall, $4.5b+ of infrastructure work is expected to be done in the city over the next 15 years, all of which will require workers outside the city to temporarily move into an already stretched housing market.
Why Now is the Time to Invest
With demand for new housing in Dunedin increasing over the next decade and a residential construction sector unable to keep up with that demand, there will be upward pressure on property prices and rents in the city, making it an opportune time to invest in the local property market.
Brand New, Airbnb-Consented, Heritage Styled Townhouses in Mornington
Given the strong investment case for the Dunedin property market, now is the time to take advantage of these tailwinds and secure a brand-new townhouse at 58 Mailer Street, designed and built by award-winning local developer TGC Homes.
Nestled in the heart of Mornington, one of Dunedin's few fully serviced suburbs, this development offers the perfect balance of convenience and community.
Ideally positioned along Mailer Street, this location offers residents convenient access to a comprehensive range of amenities. You'll find local shops, a supermarket, cafés, pharmacies, a medical centre, and a vet clinic just steps away!
The property also sits along major public transport routes, providing easy connections to the CBD.
Families will appreciate the proximity to nearby schools and kindergartens, while the Mornington and Jubilee Parks offer an abundance of outdoor recreation space within walking distance. With the vibrant city centre only a five-minute drive away, this location truly delivers on lifestyle and practicality.
This small development of 7 freehold heritage-styled homes offers a range of 3-bedroom and 2-bedroom townhouse options to suit first-home buyers, investors, tenants, commuters, downsizers and young professionals.
- Centrally located, only 2.5km from the CBD and 200m from the Mornington shops
- All homes come with amazing views from an elevated position
- Both 2- and 3-bedroom homes available
- Fully turnkey with heat pumps, appliances, curtains, and blinds
- Consented for use as a full-time Airbnb property
- Fully insulated and double-glazed
- No body corporate or residents’ association
- Each home comes with a 2-year rental guarantee
Show Home – Open Times
Still not sure? You are welcome to visit our show home at 74 David St, Caversham, on Sundays from 11am to noon or Tuesdays from 12:30pm to 13:30pm and talk directly with the developer.
Now is the time to be buying an investment property. To learn more, including floor plans, visit 58 Mailer Street or call George Hercus on +64 27 246 9699.
TGC Homes Client Testimonials
“In my experience as a first-time homebuyer, TGC provided clarity, direction, and expertise throughout the building and buying journey. George and Charles maintained open lines of communication, and every email I sent was promptly answered. They have set a very high standard and expectation for when I decide to purchase a new home in the future.
I highly recommend TGC if you're looking to buy a home. Check out their Instagram to see what they have to offer.”
- Ezechel Garcia
“I recently bought a townhouse in Dunedin from TGC Developers, and I couldn't be happier. The quality of workmanship is outstanding, with high attention to detail and modern design. Communication with Charles was seamless, and their customer service went above and beyond. The townhouse features all the modern amenities I wanted, and the location is perfect with easy access to local amenities and public transport.
Highly recommend TGC Developers for their commitment to excellence and customer satisfaction.”
– Heather Kahl
Learn more about TGC Homes or follow us on social media for the latest news and updates on our townhouse developments in Dunedin.
