30.09.05 :: Terrence Aschoff, Manager CHRANZ

The Centre for Housing Research, Aotearoa New Zealand (CHRANZ) and Building Research have released research from DTZ New Zealand that investigates housing tenure aspirations and attainment in New Zealand. The project was jointly funded by CHRANZ and Building Research (from the Building Research Levy).

The key findings include:

Despite declining home ownership rates, New Zealanders continue to aspire to own their own homes.

New Zealand's home ownership rates are projected by DTZ New Zealand to continue to fall from 68% of households in 2001 to 61.8% by 2016. While the actual number of households owning is increasing, the growth in the number of households renting is growing faster.

Household demand projections to 2016 estimate strong growth in both owned and rented accommodation (approximately 20,500 households per annum between 2006 and 2016).

The housing demand, centred on the Auckland region and upper half of the North Island, will require significant government and non-government capital. Private sector investment in the growing rental housing market will be critical.

A significant increase is also estimated in the number of households headed by persons aged 65 years and over.

In considering housing policy responses in the context of the New Zealand Housing Strategy, DTZ New Zealand recommends that priority should be given to:

addressing any identified housing supply issues that limit the market's ability to effectively respond to changes in demand;

encouraging an environment that allows for continued private sector investment and improved management in the rental housing market whilst enhancing the benefits of being a renter; and

broadening the focus on the housing requirements of older New Zealanders to include the interactions between housing, health and social services, transport and other infrastructure services.

A full copy of the research report is available online. A copy of the CHRANZ Research Bulletin is available online.

For further information please contact:

Terrence Aschoff
Manager
CHRANZ
terrence.aschoff@chranz.co.nz
DDI: 04 439 3326

or

Ian Mitchell
Research Manager
DTZ New Zealand
ian.mitchell@dtz.co.nz
DDI: 04 917 9757
M: 021 389 335