More needed to address supply issues
Growing public concern about Auckland’s critical shortage of both rental accommodation and affordable homes to buy means many had high hopes for supply side announcements in today’s Budget.
But there was just one major supply side initiative: Finance Minister Bill English allotted $100 million towards housing development on surplus Crown land in Auckland.
Building and Housing Minister Nick Smith said the funding would add momentum to the programme of using public land for increasing the supply of housing.
“The programme’s goal is to increase the pace of housing development and to put a greater focus on bringing more affordable housing to the market.”
Following the success of the approach in post-quake Christchurch, the government decided to adopt the approach in Auckland last year.
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