The housing crisis which was fuelled by rising property prices in New Zealand is deepening, with hundreds of families now living in cars, garages and shipping containers. The housing market in Auckland is one of the most expensive in the world, with prices rising 77.5% over winter weeks. Low interest rates, rising migration, near full occupancy of state housing in South Auckland, and minimal wage rises, have combined to put enormous pressure on many low to middle income earners. Although the New Zealand government announced NZ$41.1m ($30m) for emergency housing, with the past five years away, charities say it will come too late for most.
The housing crisis which was fuelled by rising property prices in New Zealand is deepening, with hundreds of families now living in cars, garages and shipping containers. The housing market in Auckland is one of the most expensive in the world, with prices rising 77.5% over the past five years. Low interest rates, rising migration, near full occupancy of state housing in South Auckland, and minimal wage rises, have combined to put enormous pressure on many low to middle income earners. Although the New Zealand government announced NZ$41.1m ($30m) for emergency housing, with winter weeks away, charities say it will come too late for most.