New policy proposed for urban development

Date:  02 June 2016

Minister's media release

The Government’s proposed National Policy Statement on Urban Development Capacity will require councils to ensure land supply for housing and business keeps pace with growth, Environment, Building and Housing Minister Dr Nick Smith says.

“This new policy is about tackling the long-term root cause of New Zealand’s housing affordability problems. Insufficient land supply in Auckland has seen median section prices rise from $100,000 in 1990 to $450,000 now – an increase of 350 per cent. In the same time, building costs rose 78 per cent and the Consumer Price Index 71 per cent. The high section price compounds the affordability problem because the built home will also be highly priced.”

Read more on the Beehive website