Running backwards into a housing deficit again
“In other words, New Zealand has a widening housing deficit.”
By ANZ’s estimates the housing deficit had largely been eroded by the third quarter of last year, based on its assumptions around people per dwelling and depreciation of the housing stock.
The country for the first time in a long time had roughly enough houses for its population – albeit not always in the right places, with some regions like Tauranga and Queenstown still well short.
However, new demand for housing outstripped new supply in both the fourth quarter of last year and the first quarter of this year.
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