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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.
The redevelopment would leave 78 houses owned by Housing New Zealand and the rest sold privately. [54] The redevelopment process sparked over two years of protests and scores of arrests, including of Mana Party leader Hone Harawira. [55] In 2012 it closed Housing New Zealand's local offices to tenants and directed all enquiries to a call centre ...
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]
Google said on Friday it will stop linking to New Zealand news articles and ditch the agreements it has with local news organisations, if the country’s government goes ahead with a law to force ...
The following is a list of governmental and public sector scandals in New Zealand.While New Zealand generally scores very well on international indices of corruption, there have been several notable high-profile scandals including cases of cover-ups relating to politics, economics, or public sector debacles, or to the private lives of individual government representatives.
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This is the lowest rate of home ownership since 1951. This is partly due to the increase in New Zealand house prices which since 1990 have increased faster than any other OECD country. [56] Housing in New Zealand has been classified as 'severely unaffordable' with a score of 6.5 under the median measure housing affordability measure. [57]