PHOTO: BRADEN FASTIER/STUFF Property investors are to blame for New Zealand’s high house prices, a new research paper says.
Property investors are to blame for New Zealand’s high house prices, a new research paper published by the Helen Clark Foundation says.
Author Jenny McArthur said a “decades-long boom in property investment” had driven up housing and land prices to create “windfall gains” for property owners, the real estate sector, and banks.
The Helen Clark Foundation is an independent public policy think tank located at the Auckland University of Technology. The report has been published with the intention of stimulating debate on housing issues.
McArthur said previous attempts to address housing problems had not worked because they saw it simply as an issue of supply and demand.
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