Auckland’s housing shortage will get worse

Advertisement

By Leith van Onselen

I wrote a few weeks back how the National Government in New Zealand has backed the wrong housing policy in focusing solely on boosting housing supply, while ignoring altogether demand-side drivers like record immigration (brought about, in part by the Government’s own policies), tax lurks, and speculative foreign investment.

This view is best encapsulated by the below table, which shows that while National has had some moderate success in boosting dwelling supply, it has failed to keep up with the Government’s mass immigration program:

ScreenHunter_17404 Feb. 13 12.08

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.