A housing affordability report released by the OECD organisation of developed nations has ranked New Zealand top for unaffordable housing for its poorest families.
The OECD’s Building for a Better Tomorrow report said more than half of people in the lowest-earning fifth of the workforce paid more than 40 per cent of their disposable income on housing costs in 2019.
And in a few weeks law changes are coming into effect that will increase rental costs further for tenants.
The OECD report said both building more state houses, and tackling overly restrictive land regulations and planning processes, were things countries could do to tackle housing affordability.
Building more state houses helps a few thousand families. Tacking land regulations and planning processes will help hundreds of thousands of families.