Housing shortage estimates show NZ has 60,000 shortfall
New Zealand is up to 60,000 houses short, with Auckland needing as many as 35,000 homes, estimates in a Treasury document suggest.
The figures are part of housing supply and demand forecast produced in September of 2016 and released in January as part of an Official Information Act request.
Using their own metrics, Treasury estimate that the ‘‘cumulative shortfall’’ houses in Auckland was at between 30,000 and 35,000 in June of 2016.
That figure is estimated to get slightly worse in 2018, as the population continues to increase, before improving.
It indicates that between June 2015 and June 2016, just under 9000 homes were added to the market in Auckland - but 16,748 buyers started looking for homes.
Treasury projected this shortfall to drop to around 15,000 by 2030, but changes in population growth, the economy, or household size could change that.
If population growth follows a ’’high projection’’ produced by Statistics NZ, the shortfall could grow by 30,000 homes by 2030.
ANZ Bank estimates the shortfall is growing by 4000 homes per quarter, for a national shortfall of 60,000 dwellings.
English said the 60,000 figure was an ‘‘erroneous estimate’’, with estimates of a shortfall between 10,000 and 20,000 more likely.
Treasury analysts says the country has a shortfall of 60,000 houses.