PHOTO: Rent – FILE
An independent Māori housing advocacy group says a nearly 20 percent rise in house prices pushes the dream of owning a home further away for Māori.
The data comes from the Real Estate Institute’s monthly house price index for October which shows house prices have increased 19.8 percent year-on-year.
It showed the median house price is at $725,000, with record-high median houses prices seen in Gisborne, Marlborough, Otago, Wellington, Manawatū/Whanganui, Northland, Bay of Plenty, Waikato and Canterbury.
Te Matapihi chair Rau Hoskins said it pushed the goal of home-ownership further away.
“The situation is advantaging people who are already in the market and making the dream even more distant for those who aren’t, Māori and non-Māori,” he said.
“I think what the Government can look to do immediately is look to the LVR issues so we can help to contain at least the investor activity in the market, which we know is extremely active right now.
“I think there’s some fledgeling support going on with the Kainga Ora workshops. I think they’re really good at supporting Māori into home ownership but while that gives you the housing intelligence and support, it doesn’t help you with what the market is doing,” he said.
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