Home Ownership Drops

Fewer New Zealanders own homes – census

MICHAEL FOX
04/12/2013

The number of Kiwis who own their homes continues to decline, and economists warn it is likely to get harder still.

New census figures released yesterday show the number of households that owned their own home or held it in trust dropped from 66.9 per cent in 2006 to 64.8 per cent this year – continuing a trend reflected in census data since 1987.

Economists say that drop is likely to increase with high and growing house prices as well as new Reserve Bank lending limits making it harder for first home buyers.

Dr Claire Matthews, from Massey University’s Centre for Banking Studies, said homes were increasingly being put out of reach.

link:

http://www.stuff.co.nz/business/money/9474254/Fewer-New-Zealanders-own-homes-census

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