No shit Sherlock

One News reports:

1 NEWS can exclusively reveal data from homes.co.nz and Infometrics shows the more houses that are built in a region, the slower the house price rise is.

In Hamilton, 14.8 percent of its housing stock has been built in the last decade, and house prices have risen by just over 13 per cent.

Christchurch and Tauranga also sit around the 14 per cent mark.

In Auckland, where just 9.5 per cent of its homes have been built in the last 10 years, price rises have roared past 20 per cent.

The capital fares even worse, with Wellington having had just 7.1 per cent of its housing stock built in that time, but its price rise is over 22 per cent.

Very good use of data to show what many have already argued – the problem is supply not demand.

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