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Property development `always risky': Key

NZ NewswireNZ Newswire 10/10/2016
Prime Minister John Key © Getty Images Prime Minister John Key

A report that 35 Auckland apartment projects have fallen over this year shows there's always a risk in property development, Prime Minister John Key says.

The New Zealand Herald reported the collapsed developments on Tuesday, detailing the impact they've had on people who put their money into them.

"I wouldn't take too much out of it," Mr Key told reporters.

"What it shows you is that there's always a risk when it comes to property development."

He said consenting for property developments was strong in Auckland, and he still believes apartments are "a credible alternative" for people to invest in.

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