16 dic 2011 año - Productivity Commission released its draft report on Housing Affordability

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The New Zealand Productivity Commission released its draft report on Housing Affordability.
The Inquiry into Housing Affordability undertaken by the Commission made a number of recommendations aimed at improving housing affordability. These included:
• an urgent need for more land to be opened up for housing, especially in urban areas, because sections now average about 40 percent to 60 percent of the cost of a house;
• reconsideration of Auckland’s draft Spatial Plan. Auckland faces significant housing affordability challenges and the Commission found its current draft plan, with a target accommodating 75 percent of new homes within existing urban boundaries, would be difficult to reconcile with affordable housing;
• improved processes for consenting, to speed up service and lower costs;
• improving how local council development charges for infrastructure are calculated and applied, including making them reviewable. The Commission found that the current model has too much regional variation and is not transparent; and
• there is scope to improve productivity in the home construction sector and the Commission endorsed the work of the Building and Construction Sector Productivity Partnership established in 2010 as a joint industry-government initiative.
The Commission found that taxation was not a key driver of the recent housing boom (2001-2007 house prices almost doubled). The Commission considered the claim that housing is tax advantaged, but concluded that any tax advantage is much smaller than often suggested.
Key housing affordability facts presented by the Commission were:
• housing is one of the largest sectors of the New Zealand economy. Total residential property stock has an estimated value of $625 billion (the equivalent of nearly three times GDP);
• over the course of the 2000s housing boom, real house prices increased between 70 percent and 240 percent across different regions;
• the responsiveness of housing supply in New Zealand is around average in international comparison, but about half as effective as in a number of better-performing OECD countries;
• land prices now account for, on average, almost 60 percent of the cost of a dwelling in Auckland and 40 percent across the rest of New Zealand;
• construction costs have increased by 30 percent in real terms in the nine years to 2011; and
• the number of households renting with at least one member in paid employment, increased by 150 percent between 2001 and 2006. Numbers have since fallen slightly, but are still significant.
Submissions on the draft report were sought by 10 February 2012, with a final report to be provided to the Government on 16 March 2012.


Source: https://www.msd.govt.nz/about-msd-and-our-work/about-msd/history/social-assistance-chronology-programme-history.html

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