Auckland's housing crisis is investor-driven, not shortage: NZIER

Wed, 28 May 2014

By Pattrick Smellie May. 28 (BusinessDesk) - There is no housing shortage in Auckland, where prices continue to rise strongly thanks to investor activity, says the chief economist for the New Zealand Institute of Economic Research, Shamubeel Eaqub. At a briefing in Wellington for the institute's quarterly economic predictions, Eaqub said the fact rents are not following Auckland house prices up indicates price rises there are being driven by property investors rather than a shortage of supply which has seen the government fast-tracking th...

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