Housing Affordability In Aotearoa New Zealand: The Importance Of Urban Land Supply, Interest Rates, And Tax

Dominick Stephens, Deputy Secretary and Chief Economic
Adviser at the Treasury, spoke this morning at the Economic
Policy Centre Workshop on Housing Affordability hosted by
the University of Auckland Business School.

In his
speech, Dominick Stephens discusses how housing prices are a
key issue for the wellbeing of New Zealanders. The key cause
of rising house prices in New Zealand over the past twenty
years has been a combination of restricted urban land
supply, a global decline in interest rates, and the tax
system. The speech covers the Treasury’s views on the
implications for policy.

A pdf of the speech is attached,
and it can also be found on the Treasury website at https://www.treasury.govt.nz/publications/speech/housing-affordability-aotearoa-new-zealand-importance-urban-land-supply-interest-rates-and-tax

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