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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.
The Overseas Investment Amendment Act 2018 was the result of an acute housing shortage in New Zealand during the early 21st century. In addition, national housing prices rose faster than incomes, with the gap rising from over 3.0 in January 2002 to 6.27 in March 2017. [7]
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]
Prices hit a new all-time high in June 2024, with the median sale price for an existing home reaching $426,900, according to the National Association of Realtors (NAR). July’s median price was ...
US house price trend (1998–2008) as measured by the Case–Shiller index Ratio of Melbourne median house prices to Australian annual wages, 1965 to 2010. As with all types of economic bubbles, disagreement exists over whether or not a real estate bubble can be identified or predicted, then perhaps prevented.
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]
Why New Zealand v South Africa is more than just the Rugby World Cup final Saturday 28 October 2023 17:38 , Mike Jones Rugby’s biggest rivalry will be played out on its grandest stage with a ...
A house price index (HPI) measures the price changes of residential housing as a percentage change from some specific start date (which has an HPI of 100). Methodologies commonly used to calculate an HPI are hedonic regression (HR), simple moving average (SMA), and repeat-sales regression (RSR).