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  1. #1
    Join Date
    Aug 2003
    Posts
    7,677

    Default Home ownership dropping - don't believe the hype

    Here's a good news item from NZH - it says home ownership in NZ is marginally better than it was in 1951 but that it's not dramatically dropping. So in 1951 it was around 66% and now it's 63%. There was a spurt of growth pushing it to an all time high of 73% in 1991 but that was uncharacteristic and comparing where we are now with other countries we're not worse off.

    we currently rank at 44 in the table of 50 nations with the highest rates of home ownership well behind first ranked Romania (96.4 per cent) and second-place Singapore (90.7 per cent), and in the same ballpark as Australia (65.5 per cent), the US (64.5 per cent) and the UK (63.5 per cent).
    Source

    I suppose as a young nation we compare immediate past with present and use it to prove a point i.e. incompetency of the Government of the day etc. I have to say I am surprised

    This invites a couple of observations. Firstly, despite at least four property cycles since 1980 each leading to a doubling of house prices over the previous cycle the current rate of 63.2 per cent home ownership is not far shy of the 93-year average of around 65 per cent which means successive generations of Kiwis appear to have adapted to, and overcome, the reality of higher house prices.
    Worth reading the entire article. If for 93 years the rate of ownership has been consistent, do we need the KiwiBuild etc?

    cheers,

    Donna
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  2. #2
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,016

    Default

    Kiwibuild? More like kiwi-skilled needed.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!


 

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