Statistics New Zealand has released a new report showing that New Zealand’s home ownership rate has fallen to around the lowest level in 70-years:
Homeownership at lowest rate since the 1950s
Data on home ownership has been collected in census since 1916. Figure 15 shows that the proportion of households owning their own home peaked in the late 1980s and early 1990s, at 73.8 percent, but by 2018 had fallen to 64.5 percent. This was the lowest rate since 1951 (61.5 percent).
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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.
