{"id":31436,"date":"2021-03-29T10:12:10","date_gmt":"2021-03-28T21:12:10","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=31436"},"modified":"2024-03-01T20:46:32","modified_gmt":"2024-03-01T07:46:32","slug":"new-zealands-housing-market-is-even-worse-than-australia-but-at-least-their-government-is-taking-action","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/new-zealands-housing-market-is-even-worse-than-australia-but-at-least-their-government-is-taking-action\/","title":{"rendered":"New Zealand’s housing market is even worse than Australia. But at least their government is taking action"},"content":{"rendered":"

PHOTO: For Sale signs outside a unit block in Sydney, 28 October 2020.<\/span>\u00a0Photograph: Dan Himbrechts\/AAP<\/strong><\/p>\n

The Ardern government is taking on speculators and investors. But there seems little chance of such changes here<\/p>\n

Forget the recession, forget the lockdowns, the pandemic, the zoom meetings and the kids doing school from home: 2020 was a great year! In 2020, Australian households got richer.<\/p>\n

If you owned property, that is.<\/p>\n

In 2020, despite employment crashing, Australian households ended the year with a total extra net worth of $790bn \u2013 a 7% increase on the level we all held at the end of 2019.<\/p>\n

That doesn\u2019t mean 2020 was all smooth sailing \u2013 the first quarter was a horror show: household net worth fell by $255bn in just three months.<\/p>\n

But not to worry, so big was the rebound that in the last three month of the year household wealth increased $501bn, or around 95% of the amount of Australia\u2019s total GDP for that quarter.<\/p>\n

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