“We might make mistakes but we will make other things too”Michael Joseph Savage

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$170 a week for a converted sunroom (note the brick walls), in a flat with seven other people in Wellington. In Austria the average rent of a social house is $177 per week.

Renting in New Zealand is bad. The bottom 20 per cent of income earners spend a greater proportion of their income on rent than anywhere else in the OECD. For many decades New Zealand’s housing market has failed low-income earners due to rents inflating faster than wages.

For the bottom 20 per cent of households by income, housing costs as a proportion of income have increased from 29 per cent to 51 per cent since 1988.

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Source OECD -Affordable Housing Database, Figure HC1.2.3.

Too much of New Zealand’s economy is rack-rent, where those with market power exploit those without. …

About

Brendon Harre

Trying to optimise amenity and affordability values for urban areas

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