Urgent government intervention needed to address housing supply shortage - economists

A Stuff article.

The government has been told it needs to take emergency measures to build new homes amid the severe shortage of property.

There are also calls for new policy settings to help cool New Zealanders’ thirst for real estate.

Data last week showed CoreLogic’s house price index jumped 2.6 per cent in December, with the average property price hitting nearly $789,000 – eclipsing November’s record.

Economists do not expect house price gains to slow – or even flatten – for the foreseeable future.

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