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Sunday, 11 December 2016

Housing: it's supply

Residential housing consents 1970-2015
In launching his party's tax policy, Gareth Morgan claims that increasing the supply of new houses won't help. The above graph shows otherwise - we clearly aren't building as many houses as we did in the 1970s - and there are far more of us (New Zealand's population in 1973 was 2.9m) and we're not building enough houses.