Analysis of information sources in references of the Wikipedia article "New Zealand property bubble" in English language version.
Safe, secure, and affordable housing provides a platform for a stable family. Homeownership gives everyone a stake in society.
Evidence from the latest data reveals that the greater Auckland metropolitan area is currently experiencing a new property bubble that began in 2013. But there is no evidence yet of any contagion effect of this bubble on the other centres, in contrast to the earlier bubble over 2003–2008 for which there is evidence of transmission of the housing bubble from Auckland to the other centres.
Evidence from the latest data reveals that the greater Auckland metropolitan area is currently experiencing a new property bubble that began in 2013. But there is no evidence yet of any contagion effect of this bubble on the other centres, in contrast to the earlier bubble over 2003–2008 for which there is evidence of transmission of the housing bubble from Auckland to the other centres.
Labour will continue rolling out a Progressive Home Ownership scheme that will support lower income families struggling to pull together a deposit, or pay a mortgage, into home ownership.
The massive recent house price increases are further locking our children out from ever buying a home. [...] The housing emergency is driving up inequality, and it is hitting young New Zealanders the hardest. We are already seeing a major increase in the working poor here in New Zealand, where people put in the hard yards but still can't get ahead. These house price increases just make it worse.
Mr Beale says Kiwis naturally don't like investing, and are very focussed on property, with memories of the 1987 crash still lingering.
'It seems New Zealand is still not investing in the share market because of what happened in the 1987 sharemarket crash.'
As the Productivity Commission and the current government has pointed out repeatedly in recent years, the RMA ushered in an era where councils and residents were more reluctant to open up land for housing, partly because it was easier to object to new developments, and partly because the funding arrangements for councils made it more difficult.
The end result was New Zealand's house building rate dropped from around nine homes per 1,000 people per year during the 1950s, 1960s and 1970s to around five homes per 1,000 people through the 1990s and 2000s. The potential for extra housing supply to both respond to higher house prices and then soften the growth was ripped out by the effects of the RMA and council funding mechanisms.
In October 1987 a stock market crash shook the world. Nowhere was hit harder than New Zealand.
The allure of property investment is quite multifaceted. To some it is the touchy, feely factor. They can buy a property, drive past it and touch it, which is something they can't do with shares and bonds.[...] Others have had bad experiences with shares (think the 1987 sharemarket crash, investors who got burnt haven't forgotten) and other savings schemes and are looking for alternative forms of investment.
Evidence from the latest data reveals that the greater Auckland metropolitan area is currently experiencing a new property bubble that began in 2013. But there is no evidence yet of any contagion effect of this bubble on the other centres, in contrast to the earlier bubble over 2003–2008 for which there is evidence of transmission of the housing bubble from Auckland to the other centres.
Evidence from the latest data reveals that the greater Auckland metropolitan area is currently experiencing a new property bubble that began in 2013. But there is no evidence yet of any contagion effect of this bubble on the other centres, in contrast to the earlier bubble over 2003–2008 for which there is evidence of transmission of the housing bubble from Auckland to the other centres.
The wealthiest 20 per cent of households in New Zealand hold 70 per cent of the wealth, while the top 10 per cent hold half the wealth.
The Real Estate Institute of New Zealand (REINZ) has today welcomed National's housing policy announcement [...] Bindi Norwell, Chief Executive at REINZ says: '[...] In terms of social housing tenants being able to buy their own state house, this is a great initiative and will hopefully allow a number of people to be able to get a foot on the property ladder for the first time [...]'.
Mr Beale says Kiwis naturally don't like investing, and are very focussed on property, with memories of the 1987 crash still lingering.
'It seems New Zealand is still not investing in the share market because of what happened in the 1987 sharemarket crash.'
