Housing a key economic issue for NZ - OECD
The OECD’s 2015 Economic Survey of New Zealand lists bottlenecks in housing – along with urban infrastructure and skills, inequalities in living standards, and rising environmental pressures – as a risk to sustained growth.
While the biennial survey, which was released today, was generally positive about New Zealand’s economy, one of its key messages was that housing issues need to be addressed.
Rapid population growth and a low responsiveness of supply have led to housing constraints, the survey states.
This has led to a sharp rise in house prices, particularly in Auckland, and prices are now high relative to income and rents by OECD standards.
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