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Source: New Zealand Treasury:

Speech delivered by Dominick Stephens, Deputy Secretary and Chief Economic Advisor, at the Economic Policy Centre Workshop on Housing Affordability, University of Auckland Business School, 9 September 2022

Housing prices are a key issue for the wellbeing of New Zealanders. The key cause of rising house prices in New Zealand over the past twenty years has been a combination of restricted urban land supply,  a global decline in interest rates, and the tax system. Dominick Stephens’ speech discusses the Treasury’s views on the implications for policy.