Housing crisis tip of the iceberg: report
The nationwide housing shortage and soaring prices are only going to get worse.
Leonard Hong, author of our The Need to Build report, tells Kathryn Ryan on Radio NZ that demand-side solutions such as the bright-line test are just tinkering around the edges. Only freeing up enough supply can solve housing unaffordability and overcrowding.
His projections are that between 2019 and 2060, even with low migration and low fertility, New Zealand will need nearly 15 and a half thousand additional dwellings each year, in addition to the current undersupply of 40,000.
He says long-term demographic transformations and changing household sizes are affecting overall housing demand.
Listen to the interview here: