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The property bubble in New Zealand is a major national economic and social issue. Since the early 1990s, house prices in New Zealand have risen considerably faster than incomes, [1] putting increasing pressure on public housing providers as fewer households have access to housing on the private market.
A similar problem arose in the early 1980s, some 10 years before New Zealand and for similar reasons [34] in the Canadian province of British Columbia. It is commonly known in Canada as the Leaky condo crisis and has been an ongoing issue that is estimated to have caused $4 billion in damage since the 1980s.
In late January 2019, the New York Times reported rising housing prices to be a major factor in the increasing homelessness in New Zealand so that "smaller markets like Tauranga, a coastal city on the North Island with a population of 128,000, had seen an influx of people who had left Auckland in search of more affordable housing. Average ...
State housing is a system of public housing in New Zealand, offering low-cost rental housing to residents on low to moderate incomes. Some 69,000 state houses are managed by Kāinga Ora – Homes and Communities , [ 1 ] most of which are owned by the Crown .
Housing crises can contribute to homelessness and housing insecurity. They are difficult to address, because they are a complex "web of problems and dysfunctions" with many contributing factors, [1] but generally result from housing costs rising faster than household income. [2] [3] [4]
When records began in 1974, new homes in New Zealand had an average floor area of 120 m 2 (1,290 sq ft). Average new home sizes rose to peak at 200 m 2 (2,150 sq ft) in 2010, before falling to 158 m 2 (1,700 sq ft) in 2019. [17] In 1966 the New Zealand Encyclopedia recognised seven basic designs of New Zealand houses. [18]
Regal and vice-regal Government Other party leaders in parliament Judiciary Main centre leaders Regal and vice-regal Head of state – Charles III Governor-General – Cindy Kiro Charles III Cindy Kiro Government Legislature term: 54th New Zealand Parliament. The Sixth National Government, elected in 2023, continues. Speaker of the House – Gerry Brownlee Prime Minister – Christopher Luxon ...
The Resource Management (Enabling Housing Supply and Other Matters) Amendment Act 2021 is a New Zealand Act of Parliament. The act amends the Resource Management Act 1991 to rapidly boost the supply of housing in areas where the demand for housing is high. This act seeks to address New Zealand's housing shortage and unaffordable housing. [1]