Delivering greater well-being in New Zealand: policy steps to increase housing affordability

Over the past two decades, New Zealand has experienced one of the largest house price increases among OECD countries, pushing up housing expenditure as a share of income to very high levels. Affordability for first-time buyers and renters has suffered, particularly in Auckland. This is a problem for well-being as it reduces household finances available for other uses, can harm health through various forms of deprivation such as poor nutrition, and adversely affects labour market inclusion. More...