Issues Paper on housing affordability released today
New Zealand housing affordability is to be examined as the newly established Productivity Commission releases its first Issues Paper today.
The inquiry aims to examine issues around both rental and owner occupied housing and the ramifications to the wider economy as housing comprises the main share of both household assets and debt.
Commission chairman Murray Sherwin said New Zealand house prices remain significantly higher than they were a decade ago despite some recent falls.
"Overall, there is concern that this trend has been associated with declines in housing affordability. This underpinned the government asking the Commission to evaluate factors influencing housing affordability and to find ways to improve it."
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