NZ housing shortage to take 3-5yrs to clear: ANZ

Tue, 25 May 2021

Demand for housing is probably close to peaking and supply is catching up, but even if New Zealand's borders remain closed, it will still take three-to-five years to clear the backlog, ANZ Bank's economists say."On net, it looks like NZ will be able to chip away at the housing shortage pretty quickly over 2021, but it's important to note that this progress is largely due to the border closure," the economists said in their latest note on property.NZ's largest source of demand for new housing is net immigration and &quo...

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