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New Zealand Housing Report 2009/2010: Structure, pressures and issues.

Author Category Source

Department of Building and Housing, ,

Published Year Read Publication

This report presents an overview of the housing market conditions in New Zealand's building and housing sector, marking the first consolidated effort to analyse housing demand and supply in the country.

It serves as a reference for both public and private sector participants, enhancing their understanding of the housing market and aiding in decision-making. The report acknowledges the complexity of the housing market and advises caution due to gaps in data, particularly in differentiating ‘underlying’ (population-driven) and ‘effective’ (economic) demand, and in determining the actual number of permanently occupied houses. Key themes include the building and housing sector’s significant contribution to the economy and individual well-being, with housing constituting a major portion of household expenditure and asset accumulation. The report also discusses the impact of housing on social outcomes, including health, safety, and family life, while highlighting the challenges posed by rising house prices and declining home-ownership rates. Policy issues addressed include declining home-ownership rates, the need for more affordable housing, regulatory constraints, and the sector’s declining productivity amidst rising costs. The report provides detailed forecasts and analysis of housing demand and supply, noting a growing shortfall between the two, especially in the Auckland region. It also addresses changes in household formation patterns, which have affected demand for housing.

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