NZ short by nearly 40,000 houses

New Zealand’s housing market isn’t functioning as well as it should be, with higher house prices, rising rents, falling home ownership, and a lack of housing options. But just how large is the housing shortage that we continually hear about?

Is buying a house our only path to financial security?

Retirees who own their own home are generally able to live with more financial comfort than those who are renting. It’s not rocket science – if you’ve paid off your mortgage while working, then your accommodation costs in retirement are close to zero, apart from a bit of necessary spending on rates, insurance, and maintenance. Over time, renters tend to become even more disadvantaged because rents often rise faster than incomes.

Nothing in the KiwiBuild reset to stop the housing crisis

The long-awaited reset of KiwiBuild confirms that the government still doesn’t grasp why the policy went so spectacularly wrong. When KiwiBuild was conceived back in 2012, it was easy to blame the unaffordability of housing on a lack of supply – new dwelling consents the previous year had plunged to a 58-year low of 13,236. But with consents now at a 45-year high of 35,472, it no longer makes sense to suggest that high house prices are due to a lack of construction activity. KiwiBuild remains a policy that has been formulated to treat the symptoms of a problem that the government has failed to properly diagnose or understand.

Building smaller and building more

Infometrics’ building forecasts show that consents for new dwellings in New Zealand are expected to crack 35,000 by the end of 2019. This article looks at the size of our new housing, how it’s changed over time, and one potential approach to address the housing shortfall – and meet KiwiBuild targets.

Finding workers to build Dunedin’s hospital

Dunedin is finally getting new hospital, much to the relief of locals! Current estimates put the cost of the new hospital at $1.4bn, with construction scheduled to take place over a six-year period from August 2020 to mid-2026. It will be the largest project in the area in living memory and will require different approaches to get the right mix of workers. In this article we draw on our construction sector and local labour market to examine the opportunities and challenges in store for Dunedin.

Giving up on KiwiBuild, but housing’s affordability crisis remains

Fixing New Zealand’s housing affordability crisis was one of Labour’s key policy goals going into the last two elections. But KiwiBuild has been conspicuously absent from the government’s vocabulary in recent months, and yesterday’s Budget was no different. The government might not have given up trying to improve housing affordability, but it seems to have realised that KiwiBuild is not the answer to the problem.