Auckland 30,000 houses short says HSBC

Auckland 30,000 houses short says HSBC from Gabrielle Elborough

By: Gabrielle Elborough  25-Jul-2016
Keywords: Auckland 30,000 Houses Short, Auckland Housing Crisis,

In an economic report titled Housing risks and the RBNZ, HSBC's economists say their conservative estimates are that Auckland has a housing shortage of around 30,000 homes, which is equivalent to about 6% of the region's total housing stock, and that the shortfall is INCREASING by around 7000 homes a year, with record low interest rates and record levels of net inward migration driving demand. "For the RBNZ, the risks associated with a long period of low interest rates are mounting," the report warns.

Keywords: Auckland 30,000 Houses Short, Auckland Housing Crisis,

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