Did you know that:
* home ownership rates in Auckland are projected to decline from 64 per cent in 2001 to 58 per cent in 2016
* house price to income ratios have increased across the entire Auckland region
* about 21 per cent of owner-occupier households in Auckland are paying more than 30 per cent of their gross income on housing costs
* a decline in housing affordability affects wealth accumulation, social cohesion, and education and health outcomes.
All of this comes out of a major study by global real estate advisors DTZ. City Vision and Labour councillors are doing something to start addressing the problem through the affordable housing project.
The project is a partnership between Council and the New Zealand Housing foundation. Council provides some funding (up to $9m over five years) and NZHF builds up to 100 houses for low-middle income people who would not otherwise be able to afford their own home. NZHF and the family enter into a shared equity agreement to own the house together.
This is a great initiative. While it doesn't solve Auckland's housing problems it is a good example of what can be done. Banks and C&R will scrap the affordable housing scheme if re-elected as part of their 1990s slash and burn policies. Only the return of a City Vision led Council will see this important initiative continue.
* home ownership rates in Auckland are projected to decline from 64 per cent in 2001 to 58 per cent in 2016
* house price to income ratios have increased across the entire Auckland region
* about 21 per cent of owner-occupier households in Auckland are paying more than 30 per cent of their gross income on housing costs
* a decline in housing affordability affects wealth accumulation, social cohesion, and education and health outcomes.
All of this comes out of a major study by global real estate advisors DTZ. City Vision and Labour councillors are doing something to start addressing the problem through the affordable housing project.
The project is a partnership between Council and the New Zealand Housing foundation. Council provides some funding (up to $9m over five years) and NZHF builds up to 100 houses for low-middle income people who would not otherwise be able to afford their own home. NZHF and the family enter into a shared equity agreement to own the house together.
This is a great initiative. While it doesn't solve Auckland's housing problems it is a good example of what can be done. Banks and C&R will scrap the affordable housing scheme if re-elected as part of their 1990s slash and burn policies. Only the return of a City Vision led Council will see this important initiative continue.
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