Auckland housing ‘out of control’ but no changes needed – Smith

• Auckland house prices hitting the magic million-dollar mark won’t force the Government to make any sudden moves, says Housing Minister Nick Smith.

Speaking to Paul Henry on Wednesday morning, Dr Smith said he now openly accepts the Auckland housing situation is “out of control”.

Quotable Value figures released on Tuesday show the average residential property value in Auckland is now $1,013,632 – double what it was at the start of National’s time in Government, and up $400,000 since Dr Smith became Housing Minister in 2013.

• Average Auckland house now costs $1 million
• What $1 million will buy you around NZ

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