21 Jan 2019

Housing sector working in silos - Property Council boss

From Morning Report, 6:18 am on 21 January 2019

The Property Council's chief executive says groups working across the housing sector need to stop working in silos to deal with the lack of affordable houses. A new study reveals none of the country's main property markets are considered affordable anymore. The annual Demographia International Housing Affordability report released today shows New Zealand continues to be one of the most unaffordable countries in the world to buy a house, with the median price more than six times the median household income. Of the eight New Zealand markets the study looked at, all are considered severly unaffordable.