PHOTO: STUFF Then-Auckland mayor Len Brown and Housing Minister Nick Smith signing the Auckland Housing Accord in 2013.
The previous government’s solution to the housing crisis in Auckland actually made homes less affordable, research has found.
Special Housing Areas (SHAs) were created in 2013 and touted as “crucial” in “enabling young Kiwi families to get into their own home”.
Developers were offered fast-tracked consents on the proviso a portion of the development would be “affordable”.
But the creation of Auckland’s SHAs have now been found to have pushed up prices by 5 per cent within the area.
In Price Effects of a Voluntary Affordable Housing Program, researchers said limited incentives were given to developers and there was lax monitoring of the affordability requirement.
READ MORE VIA STUFF