NZ housing supply can’t outrun population ponzi

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By Leith van Onselen

Last month, New Zealand’s immigration data for September was released, which confirmed that net migration into the country had hit a record high 70,000 people over the year, which has driven the country’s population growth to all-time highs (see below chart).

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Separate data from Statistics New Zealand also revealed that the lion’s share of this immigration spilled into Auckland, where housing and infrastructure pressures are most acute (see below charts).

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.