PHOTO: Finance Minister Grant Robertson
Deputy Prime Minister Grant Robertson says successive Governments are partly to blame for New Zealand’s housing crisis as data shows average house price growth is finally starting to slow.
The latest QV figures have revealed the market’s month-on-month growth has slowed for the first time since July last year – this time by 0.1 percent.
But prices are still well up compared to 2020 and Finance Minister Roberston says New Zealand is still facing the aftermath of a perfect storm.
Earlier this year, the Government introduced a suite of new housing measures aimed at tilting the market away from investors and towards first-home buyers.
“We took this action. We always knew it would take a little bit of time to flow through but we are now starting to see the trend going in what I consider to be the right direction,” Robertson told The AM Show on Tuesday.
“It is going to take a while given the momentum that’s been in the housing market.”
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