Housing Affordability in New Zealand: Evidence from Household Surveys
Date
Authors
Supervisor
Item type
Working paper
Degree name
Journal Title
Journal ISSN
Volume Title
Publisher
New Zealand Treasury
Abstract
Housing affordability has been a topic of much interest in New Zealand over recent years with the median house price increasing by over 50% between 2004 and 2008. The aim of this paper is to inform debate by drawing out evidence from two surveys: the Household Economic Survey (HES); and the Survey of Family, Income and Employment (SoFIE). In particular, the paper examines how patterns of house prices, expenditures, and home ownership have changed over time and across groups. A model which may be suggestive of whether or not an individual or couple is likely to find home-ownership affordable is also developed. This model incorporates information relating to four important influences of affordability: income; net wealth; house prices; and the structure of mortgage contracts (including the interest rate and mortgage term).Description
Keywords
Source
New Zealand Treasury Working Paper 13/14. ISBN: 978-0-478-40353-4 (online only)
DOI
Rights statement
© Crown Copyright, Creative Commons Attribution 4.0 International (CC BY 4.0). This Crown copyright material is licensed for re-use under the Creative Commons Attribution 4.0 International licence. In essence, you are free to copy, distribute and adapt the material, as long as you attribute it to the Treasury and abide by the other licence terms.