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New Treasury papers reveal massive housing shortage

A nationwide shortage of 60,000 houses, growing by over 40 a day, confirms the need for Labour’s Kiwibuild policy, says Leader of the Opposition, Andrew Little.

New Treasury papers released under the Official Information Act show that ANZ estimates the country has 60,000 houses fewer than it needs for housing demand to be met. Each quarter, 4,000 fewer houses are built than are needed to keep up with record population growth. Latest Statistics New Zealand figures show building consents are falling.

“The solution is simple: build more houses. Labour will build 100,000 affordable homes for first homebuyers. We can fix this.

“When there’s been housing crises in the past, governments have stepped in and built, or helped to build, good, basic homes to get families on the property ladder and stabilise prices. It worked then, why aren’t we doing it now?

“Bill English needs to stop tinkering and start leading. Labour’s KiwiBuild Bill to start our affordable building programme is before Parliament. Mr English just needs to have the guts to back it and we can get on with fixing this crisis.

“The solution is in the Government’s hands, but only if Mr English stops sitting on his.

“Every day we wait, the housing shortage grows by over 40 houses. The results are all around us – out of control prices, speculators, skyrocketing rents. It means families missing out on the Kiwi dream of owning your own place. It means overcrowded, over-priced rentals. It means families ending up homeless,” says Andrew Little.