The New Zealand government yesterday announced action plans to make housing more affordable for more the nation’s families.
The plan focuses chiefly on improving supply rather than subsidising home loans, which Prime Minister Helen Clark believes would only drive prices up further.
“Fundamentally the problem is the undersupply of affordable homes,” she said.
Some of the plan’s initiatives include using surplus land for housing developments and the introduction of large scale housing developments involving partnerships between government and the private sector.
The government also plans to launch a shared equity scheme in July to improve affordability for New Zealanders in higher-cost areas.
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