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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]
As of 2019, the average house price in New Zealand exceeded NZ$700,000, with average prices in the country's largest city, Auckland, exceeding $1,000,000 in numerous suburbs. [33] The ratio between median house price and median annual household income increased from just over 3.0 in January 2002 to 6.27 in March 2017, with Auckland's figures 4. ...
In 2001, Housing New Zealand, the Housing Corporation, and part of the Ministry of Social Policy were combined into the Housing New Zealand Corporation, so that policy and administration for state housing are controlled by a single agency. [50] A program to modernise state houses was introduced after 1999.
Funding from the New Zealand government and the Ashburton District Council for a new rail freight hub was provided in October 2021. The project will move the rail container terminal from the centre of Ashburton to Fairton. The project is expected to be complete by the end of 2022, and has an estimated cost of $14M.
On 23 July 2009, a joint venture was signed today between Accor Hospitality, Tainui Group Holdings and Auckland International Airport to develop, operate, and manage a 260-room Novotel-branded hotel located at Auckland Airport. The cost was estimated to be roughly $65m including hotel construction, which is estimated to be about $45m.
Canterbury is also New Zealand's main producer of cereal crops such as wheat, barley and oats. [36] As of 2002, the region produced 60.7% of the nation's supply of wheat, 51.1% of its barley stocks and 43.7% of its supply of oats. [35] Canterbury has 25,065 hectares of horticultural land, the largest area in New Zealand.
Nearly 30 percent of New Zealand's land mass is publicly owned with some degree of protection. Most of this land – about 80,000 square kilometres (31,000 sq mi) – is administered by the Department of Conservation. There are 13 national parks, [2] [3] thousands of reserves, [4] 54 conservation parks, [5] and a range of other conservation ...
The shareholding will cost NZ$27.7 million, through the issue of new shares. The alliance is expected to generate an extra 176,000 passengers through Queenstown Airport. AIAL has an option to increase its shareholding in Queenstown Airport to 30–35 per cent at any time up to 30 June 2011, subject to the approval of the Queenstown Lakes ...