Note: For further information on the data sources used for the Figures, please contact the authors, at eaqubs@gmail.com.
1 Jane-Frances Kelly et al., Renovating Housing Policy, Grattan Institute Report No. 2013-12, Melbourne, October 2013, http://grattan.edu.au/wp-content/uploads/2014/03/800_Renovating_Housing.pdf (accessed 19 May 2015).
2 Stacey Kirk and Andy Fyers, ‘Pensioners Profit while the Young Fall Behind’, stuff.co.nz, 18 May 2015, www.stuff.co.nz/business/money/68616805/pensioners-profit-while-the-young-fall-behind.html (accessed 19 May 2015). Massey University public policy expert Associate Professor Richard Shaw said there were ‘real signs’ of generational inequality in the distribution of income.
3 Interest.co.nz, ‘AMP360 Home Loan Affordability for First-Home Buyers – New Zealand’, AMP 360 Home Loan Affordability series, March 2015, www.interest.co.nz/property/first-home-buyer (accessed 20 May 2015).
4 Lee Suckling, ‘The Reality of Renting in Auckland’, New Zealand Herald, 13 May 2015, www.nzherald.co.nz/lifestyle/news/article.cfm?cid=6&objectid=11447820 (accessed 19 May 2015). See also: Andrew Dean, Ruth, Roger and Me: Debts and Legacies, Bridget Williams Books, Wellington, 2015.
5 Simon Collins, ‘If You Don’t Own a Home by 40, You Don’t Have Much Hope, Warns Study’, New Zealand Herald, 24 January 2015, www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11391028 (accessed 19 May 2015).
6 Between the 2001 and 2013 Censuses, Statistics New Zealand. There was no Census in 2011 due to the Canterbury earthquakes; it was instead conducted in 2013.
7 QVNZ, ‘Residential House Values’, www.qv.co.nz/resources/monthly-residential-value-index (accessed 19 May 2015).
8 See Shamubeel Eaqub, Growing Apart: Regional Prosperity in New Zealand, Bridget Williams Books, 165Wellington, 2014, for more on regional disparities.
9 QVNZ, ‘QV Residential Price Movement Index’, March 2015, http://us9.campaign-archive1.com/?u=7ea78a69a1f7991bf60632008&id=8543ea50d0&e=10ad7cfa06 (accessed 19 May 2015).
10 Massey University, Home Affordability Report: Quarterly Survey, 25, 1 (March 2015), www.massey.ac.nz/massey/fms/Colleges/College%20of%20Business/School%20of%20Economics%20&%20Finance/research-outputs/mureau/home-affordability/Home%20Affordability%20Report%20March%202015.pdf?BD943985451C3E4E3B0657C24F1830EE (accessed 30 March 2015).
11 Matthew Roskruge et al., Homeownership and Social Capital in New Zealand, Motu Working Paper 11-02, Motu Economic and Public Policy Research, March 2011, http://motu-www.motu.org.nz/wpapers/11_02.pdf (accessed 19 May 2015).
12 Statistics New Zealand, ‘Perceptions of Housing Quality in 2010/11: Exploratory Findings from the New Zealand General Social Survey’, 18 April 2013, www.stats.govt.nz/browse_for_stats/people_and_communities/housing/perceptions-housing-quality-nzgss-2010-11.aspx (accessed 19 May 2015).
13 Using house-price index from QVNZ and consumer price inflation from Statistics New Zealand.
14 Tanya Jefferies, ‘Politicians are Worried about Challenges “Generation Rent” Faces Affording Property in their Constituencies, Survey Finds’, thisismoney.co.uk, 3 May 2015, www.thisismoney.co.uk/money/mortgageshome/article-3066305/Politicians-worried-challenges-Generation-Rent-face-buying-homes-areas.html (accessed 19 May 2015).
15 Robert Booth, ‘UK Housing Crisis “in breach of human rights”’, The Guardian, 28 April 2015, www.theguardian.com/society/2015/apr/28/uk-housing-crisis-in-breach-of-human-rights (accessed 19 May 2015).
16 Alex Johnson, ‘200,000 Face “Revenge Evictions” by Landlords’, The Independent, 12 March 2014, www.independent.co.uk/property/200000-face-revenge-evictions-by-landlords-9186776.html (accessed 19 May 2015).
16617 Josh Dye, ‘Housing Affordability Driving Homelessness: ACOSS’, Sydney Morning Herald, 24 March 2015, www.smh.com.au/federal-politics/political-news/housing-affordability-driving-homelessness-acoss-20150324-1m6nhb.html (accessed 19 May 2015).
18 Ibid.
19 Jessica Irvine, ‘Sydney is Turning into a Ghetto as Poor are Trapped by Fewer Jobs and Rising Housing Costs’, Sydney Morning Herald, 10 May 2015, www.smh.com.au/nsw/sydney-is-turning-into-a-ghetto-as-poor-are-trapped-by-fewer-jobs-and-rising-housing-costs-20150509-ggwyj0.touch.html?skin=smart-phone (accessed 19 May 2015).
20 MarketWatch, ‘Homeownership Rate Drops to Quarter-century Low’, Economic Report, 28 April 2015, www.marketwatch.com/story/homeownership-rate-drops-to-quarter-century-low-2015-04-28?link=MW_latest_news (accessed 19 May 2015).
21 OneNYC, ‘Goal 3: New Yorkers will have access to affordable, high-quality housing coupled with robust infrastructure and neighborhood services’, City of New York, 2015, www1.nyc.gov/html/onenyc/visions/thriving/goal-3.html (accessed 19 May 2015)/.
22 William Cochrane and Jacques Poot, ‘Homeownership and the New Zealand Labour Market’, Labour, Employment and Work in New Zealand, (2006), pp.416–26, http://ojs.victoria.ac.nz/LEW/article/viewFile/1607/1450 (accessed 19 May 2015).
23 ‘Affordable Housing in Auckland’, panel discussion with Shamubeel Eaqub, Penny Hulse, Alfred Ngaro and David Whitburn, 25 November 2014, http://aucklandconversations.e-cast.co.nz/auckland-conversations/details/107 (accessed 19 May 2015); Simon Collins, ‘Mr Rental Now Thinking about Buying House’, New Zealand Herald, 24 January 2015, www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11391158 (accessed 19 May 2015).
1 The authors acknowledge use of the dataset described in Adrienne Mack and Enrique Martínez-García, ‘A Cross-Country Quarterly Database of Real House Prices: A Methodological Note’, Federal Reserve Bank of Dallas and 167Globalization and Monetary Policy Institute Working Paper No. 99, December 2011 (revised June 2014), www.dallasfed.org/assets/documents/institute/wpapers/2011/0099.pdf (accessed 19 May 2015).
2 Auckland Council, ‘The Auckland Plan’, June 2012, www.aucklandcouncil.govt.nz/EN/planspoliciesprojects/plansstrategies/theaucklandplan/Documents/aucklandplanenglish.pdf (accessed 19 May 2015).
3 Assuming the section sizes are 300 square metres. The 2013 Draft Unitary Plan suggested minimum section size of 300 square metres in some areas. David Gibbs, ‘The Big Squeeze-We Can All Fit if Sections are Smaller’, New Zealand Herald, 7 May 2013, www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10881876 (accessed 19 May 2015).
4 CoreLogic custom data received via personal communication and a version of that data is also cited in: Grant Spencer, Deputy Governor Reserve Bank of New Zealand (RBNZ), ‘Action Needed to Reduce Housing Imbalances’, speech delivered to the Chamber of Commerce in Rotorua, 15 April 2015, www.rbnz.govt.nz/research_and_publications/speeches/2015/action-needed-to-reduce-housing-imbalances.pdf (accessed 19 May 2015); Shamubeel Eaqub, ‘The Home Affordability Challenge: Suite of Policy Reforms Needed in New Zealand’, NZIER Working Paper 2014/4, July 2014, http://nzier.org.nz/static/media/filer_public/98/7c/987c99b1-d879-48ca-ac2c-58e05307ac5c/nzier_public_discussion_document_2014-04_-_home_affordability_challenge.pdf (accessed 19 May 2015).
5 RBNZ, ‘Household Assets and Liabilities: C22 Household Balance Sheet ($m)’, updated 27 March 2015, www.rbnz.govt.nz/statistics/tables/c22 (accessed 20 May 2015).
6 Crockers Property Investment Index, Crockers Property, February 2015, www.crockers.co.nz/media/96555/cpii%20feb%2015%20press%20release.pdf (accessed 19 May 2015).
7 Based on house-price index from QVNZ and consumer price index data from Statistics New Zealand, as calculated in Eaqub, ‘The Home Affordability Challenge’.
8 Eaqub, ‘The Home Affordability Challenge’.
9 Greg Ninness, ‘First Home 168Buyers Should Have No Trouble Getting a House Anywhere but Auckland-AMP360 Home Loan Affordability Report’, interest.co.nz, 26 March 2015, www.interest.co.nz/property/74692/first-home-buyers-should-have-no-trouble-getting-house-anywhere-auckland-amp360-home- (accessed 19 May 2015).
10 The Economist, ‘As Safe as Houses’, 31 January 2015, www.economist.com/news/finance-and-economics/21641206-banks-have-been-boosting-mortgage-lending-decades-expense-corporate?fsrc=email_to_a_friend (accessed 19 May 2015).
11 Beehive.co.nz, ‘Budget 2015: Taxing Property Gains Fairly’, 17 May 2015, www.beehive.govt.nz/release/budget-2015-taxing-property-gains-fairly (accessed 19 May 2015).
12 O’Halloran Chartered Accountants, ‘FAQ About Residential Property Investment’, www.ohns.co.nz/information.php?info_id=35 (accessed 19 May 2015).
13 Bruce Bartlett, ‘Taxing Homeowners as if They Were Landlords’, Economix, The New York Times, 3 September 2013, http://economix.blogs.nytimes.com/2013/09/03/taxing-homeowners-as-if-they-were-landlords/?_r=0 (accessed 19 May 2015).
14 Sunny Dhillon, ‘Vancouver’s Housing Affordability Problem Could Have an Aussie Solution’, The Globe and Mail, 13 March 2015, www.theglobeandmail.com/news/british-columbia/vancouvers-housing-affordability-problem-could-have-an-aussie-solution/article23442149 (accessed 19 May 2015).
15 Eaqub, ‘The Home Affordability Challenge’.
16 Bernard Hickey, ‘RBNZ Agrees on Need for Better Data on Foreign Buyers; Labour Says LVR Restrictions on Auckland Landlords Clears Way for Foreign Cash Buyers to Scoop Up Properties; Wheeler Downplays Rent Fears’, interest.co.nz, 13 March 2015, www.interest.co.nz/property/75469/rbnz-agrees-need-better-data-foreign-buyers-labour-says-lvr-restrictions-auckland (accessed 19 May 2015).
17 Beehive.co.nz, ‘Budget 2015: Taxing Property Gains Fairly’.
18 There are 1.8 million households in New Zealand: at a quarter-acre section each would require land of 169446,725 acres or 1,808 square kilometres.
19 P. D. Smith, ‘Dirty Old London: The Victorian Fight Against Filth by Lee Jackson – Review’, The Guardian, 1 January 2015, www.theguardian.com/books/2015/jan/01/dirty-old-london-fight-filth-lee-jackson-review (accessed 19 May 2015).
20 Arthur Grimes and Ian Mitchell, ‘Impacts of Planning Rules, Regulations, Uncertainty and Delay on Residential Property Development’, Motu Economic and Public Policy Research, paper prepared for Treasury and MBIE, 14 December 2014, www.beehive.govt.nz/sites/all/files/2_The_Impacts_of_Planning_Rules_Regulations_Uncertainty_and_Delay_on_Residential_Property_Development.pdf (accessed 19 May 2015).
21 Eric Crampton, ‘Insights: Eric Crampton: RMA Changes Necessary, But Not Sufficient’, The New Zealand Initiative, 23 January 2015, http://nzinitiative.org.nz/About+Us/Staff/Eric_Crampton/Insights+Eric+Crampton.html?uid=794 (accessed 19 May 2015).
22 Dan Andrews, Aida Caldera Sánchez and Åsa Johansson, ‘Housing Markets and Structural Policies in OECD Countries’, OECD Economics Department Working Paper No. 836, OECD Publishing, 2011, http://dx.doi.org/10.1787/5kgk8t2k9vf3-en (accessed 19 May 2015).
23 At the time of writing, the New Zealand and Australian dollars were relatively close in value, with the New Zealand dollar worth 93c Australian.
24 Kirdan Lees, ‘Big City Life? Challenges And Trade-Offs for Auckland City’, NZIER Working Paper 2014/02, May 2014, http://nzier.org.nz/static/media/filer_public/23/40/23406ab9-8d1e-4dbd-a809-c45aad13466d/nzier_discussion_paper_2014-02_-_big_city_life-challenges_for_auckland.pdf (accessed 19 May 2015).
25 LSE Cities, ‘Urban Age Cities Compared’, November 2011, http://lsecities.net/media/objects/articles/urban-age-cities-compared/en-gb (accessed 19 May 2015).
26 Auckland Transport, ‘AT Metro Monthly Patronage – March 2015’, board meeting agenda item No. 9, 28 April 2015, https://at.govt.nz/media/1070160/Item-9-Mar-PT-Patronage-Monthly-Report.pdf (accessed 19 May 2015).170
27 New Zealand Government, ‘Government Policy Statement on Land Transport 2015/16-2024/25’, issued December 2014, www.transport.govt.nz/assets/Uploads/Our-Work/Documents/GPS-2015.pdf (accessed 19 May 2015).
28 Gilles Duranton and Matthew A. Turner, ‘The Fundamental Law of Road Congestion: Evidence from US Cities’, NBER Working Paper No. 15376, September 2009, http://dx/doi.org/10.3386/w15376 (accessed 19 May 2015).
29 Controller and Auditor-General, ‘Water and Roads: Funding and Management Challenges’, report presented to the House of Representatives, Office of the Auditor-General, November 2014, www.oag.govt.nz/2014/assets (accessed 19 May 2015).
30 Interest.co.nz, ‘Deep Freeze List-Finance Industry Failures’, www.interest.co.nz/saving/deep-freeze-list (accessed 19 May 2015).
31 Shamubeel Eaqub, ‘Construction Productivity: An Evidence Base for Research and Policy Issues’, NZIER report to the Building & Construction Sector Productivity Partnership, 5 July 2013, http://buildingvalue.co.nz/sites/all/themes/productivity/images/Wrap/Reports/NZIER_Report_to_Productivity_Partnership.pdf (accessed 19 May 2015).
32 Statistics New Zealand, ‘Business Demography Statistics’, 2014, data accessed from NZ.Stat tool, http://nzdotstat.stats.govt.nz/wbos/Index.aspx (accessed 20 May 2015).
1 Statistics New Zealand, ‘2013 Census Quickstats about Housing’, updated 30 April 2014, www.stats.govt.nz/Census/2013-census/profile-and-summary-reports/quickstats-about-housing.aspx (accessed 19 May 2015).
2 Dallas Rogers and Keith Jacobs, ‘Speaking with: Keith Jacobs on the Politics of Housing’, The Conversation, 8 May 2015, http://theconversation.com/speaking-with-keith-jacobs-on-the-politics-of-housing-41256 (accessed 19 May 2015).
3 Jit Cheung, ‘Wealth Disparities in New Zealand’, paper presented at the Social Policy, Research and Evaluation Conference 2007, Standard of Living Business Unit, Statistics New Zealand, 2007, www.stats.govt.nz/~/media/Statistics/browse-categories/people-and-communities/families/wealth-and-disparities-in-new-zealand/wealth-disparities.pdf171 (accessed 19 May 2015).
4 Anne Gibson, ‘Listen Up, Auckland: Lessons from Toronto Property Collapse’, New Zealand Herald, 4 May 2015, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11442645 (accessed 19 May 2015).
5 QVNZ, ‘Auckland Values Continue to Surge Ahead of Other Centres’, media release, http://us9.campaign-archive1.com/?u=7ea78a69a1f7991bf60632008&id=ed53e945b2&e=10ad7cfa06 (accessed 19 May 2015).
6 The authors acknowledge use of the dataset described in Adrienne Mack and Enrique Martínez-García, ‘A Cross-Country Quarterly Database of Real House Prices: A Methodological Note’, Federal Reserve Bank of Dallas and Globalization and Monetary Policy Institute Working Paper No. 99, December 2011 (revised June 2014), www.dallasfed.org/assets/documents/institute/wpapers/2011/0099.pdf (accessed 19 May 2015).
7 The Economist, ‘The Bank that Failed’, 20 September 2007, www.economist.com/node/9832838 (accessed 19 May 2015).
8 United States Government Accountability Office, ‘Financial Institutions: Causes and Consequences of Recent Bank Failures’, GAO-13-71, report to Congressional Committees, January 2013, www.gao.gov/assets/660/651154.pdf (accessed 20 May 2015).
9 Òscar Jordà, Moritz Schularick and Alan M. Taylor, ‘The Great Mortgaging: Housing Finance, Crises, and Business Cycles’, NBER Working Paper No. 20501, September 2014, www.nber.org/papers/w20501.pdf (accessed 20 May 2015).
10 Luca Angelo, Vitor Castro and Ricardo M. Sousa, ‘Booms, Busts, and Normal Times in the Housing Market’, American Statistical Association, Journal of Business & Economic Statistics, 33, 1 (January 2015), http://dx.doi.org/10.1080/07350015.2014.918545 (accessed 20 May 2015).
11 Ibid.
12 Richard Meadows, ‘Mortgage Debt Tops $200 Billion’, stuff.co.nz, 6 March 2015, www.stuff.co.nz/business/money/67032939/Mortgage-debt-tops-200-billion (accessed 20 May 2015).172
13 Marika Hill, ‘Today’s Toddlers Spend 11 Hours or More in Daycare’, Sunday Star Times, 10 May 2015, www.stuff.co.nz/life-style/parenting/68415296/todays-toddlers-spend-11-hours-or-more-in-daycare.html (accessed 20 May 2015).
14 RBNZ, Financial Stability Report, May 2015, www.rbnz.govt.nz/financial_stability/financial_stability_report/fsr-may2015.pdf (accessed 20 May 2015).
15 John Cassidy, ‘The Minsky Moment: Subprime Mortgage Crisis and Possible Recession’, The New Yorker, 4 February 2008, www.newyorker.com/magazine/2008/02/04/the-minsky-moment (accessed 20 May 2015).
16 Grant Spencer, Deputy Governor, ‘Reserve Bank Perspective on Housing’, speech delivered to Employers and Manufacturers Association in Auckland, RBNZ 8 April 2013, www.rbnz.govt.nz/research_and_publications/speeches/2013/5213129.pdf (accessed 20 May 2015).
17 Bernard Doyle, ‘Savings and the Equity Market: Submission to the Savings Working Group’, JBWere Investment Strategy Group, 22 November 2010, www.interest.co.nz/sites/default/files/Doyle%20on%20NZX%20&%20savings.pdf (accessed 20 May 2015).
18 Diana Clement, ‘Investing Overseas Can Be a Tricky Business’, New Zealand Herald, 16 July 2011, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10738730 (accessed 20 May 2015).
19 Michael Baker and Philippa Howden-Chapman, ‘Household Crowding and Health’, in What is the Extent of Crowding in New Zealand? An Analysis of Crowding in New Zealand Households 1986–2001, Housing Statistics: Crowding Analytical Report, Statistics New Zealand, August 2003, pp.58–87, www2.stats.govt.nz/domino/external/web/prod_serv.nsf/874ea91c142289384c2567a80081308e/f713dacbb5e8cd4ccc256d8d0083015b/$FILE/Chapter%205.PDF (accessed 20 May 2015).
20 Child Poverty Monitor 2014: Technical Report, ‘Housing’, Office of the Children’s Commissioner, University of Otago’s NZ Child and Youth Epidemiology Service and JR McKenzie Trust, www.nzchildren.co.nz/housing.php (accessed 20 May 2015).
21 Cate Broughton, ‘Visit to 173the Doctor “Luxury Item”’, The Press, 4 April 2015, www.stuff.co.nz/national/health/67609050/Visit-to-the-doctor-luxury-item (accessed 20 May 2015).
22 Mac Taylor, ‘California’s High Housing Costs: Causes and Consequences’, Legislative Analyst’s Office report, 17 March 2015, www.lao.ca.gov/reports/2015/finance/housing-costs/housing-costs.aspx (accessed 20 May 2015).
23 Kirdan Lees, ‘Big City Life? Challenges And Trade-Offs for Auckland City’, NZIER Working Paper 2014/02, May 2014, http://nzier.org.nz/static/media/filer_public/23/40/23406ab9-8d1e-4dbd-a809-c45aad13466d/nzier_discussion_paper_2014-02_-_big_city_life-challenges_for_auckland.pdf (accessed 19 May 2015).
24 Jonathan Woetzel et al. ‘A Blueprint for Addressing the Global Affordable Housing Challenge’, McKinsey Global Institute, McKinsey & Company, October 2014, www.mckinsey.com/~/media/McKinsey/dotcom/Insights%20and%20pubs/MGI/Research/Urbanization/A%20blueprint%20for%20addressing%20the%20global%20affordable%20housing%20challenge/MGI%20Affordable%20housing_Full%20report_October%202014.ashx (accessed 20 May 2015).
25 TomTom Traffic Index: Measuring Congestion Worldwide, ‘Auckland’, TomTom International BV, 2015, www.tomtom.com/en_gb/trafficindex/#/city/AUC (accessed 20 May 2015).
26 New Zealand Parliamentary Debates, 27 May 2014, Vol.699, p.18299 (Jonathan Young), www.parliament.nz/resource/en-nz/50HansD_20140527/b355acd07d55aec68b9ff6e29828821f55109ee7 (accessed 20 May 2015).
27 RBNZ, ‘Loan-to-Value Ratio Restrictions – FAQs’, www.rbnz.govt.nz/financial_stability/macro-prudential_policy/5393159.html (accessed 20 May 2015).
28 For an introduction to the debates surrounding social housing in New Zealand, see Sarah Bierre, Philippa Howden-Chapman and Lisa Early (eds), Homes People Can Afford: How to Improve Housing in New Zealand, Steele Roberts in association with the New Zealand Centre for Sustainable Cities and He Kainga Oranga/Housing and 174Health Research Programme, 2013.
29 Max Rashbrooke, ‘No Place Like Home’, New Zealand Geographic, 132 (March–April 2015), www.nzgeographic.co.nz/archives/issue-132/homelessness (accessed 19 May 2015).
30 Richard Meadows, ‘Gen Y Give Up on Home-owning Dream: Veda’, stuff.co.nz, 23 September 2014, www.stuff.co.nz/business/money/10533442/Gen-Y-give-up-on-home-owning-dream-Veda (accessed 19 May 2015).
31 Lane Nichols, ‘Property: Long Wait to Save a Home Deposit’, New Zealand Herald, 6 April 2015, www.nzherald.co.nz/mortgages/news/article.cfm?c_id=516&objectid=11428254 (accessed 19 May 2015).
32 Anne Gibson, ‘Get Real: Chief’s Message to Young Home Buyers’, New Zealand Herald, 29 October 2014, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11349599 (accessed 19 May 2015).
33 Anne Gibson, ‘Young House Buyers Not the Problem – Economist’, New Zealand Herald, 3 November 2014, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11352107 (accessed 19 May 2015).
1 John Kay, ‘A New Ending for a Sorry Tale of Housing Shortages’, Financial Times, 5 May 2015, www.ft.com/cms/s/0/14cd1280-f25d-11e4-b914-00144feab7de.html#axzz3acq9Owol (accessed 20 May 2015).
2 Duncan Garner, ‘How Many Houses Do Our MPs Own?’, RadioLive, 7 May 2015, www.radiolive.co.nz/DUNCAN-GARNER/tabid/615/articleID/80859/Default.aspx (accessed 20 May 2015).
3 Christopher Adams, ‘BNZ Boss: No Housing Bubble’, New Zealand Herald, 8 May 2015, www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=11445042 (accessed 20 May 2015); Anne Gibson, ‘There is No Auckland Housing Bubble – ANZ Chief Executive David Hisco’, New Zealand Herald, 12 May 2015, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11446922 (accessed 20 May 2015).
4 Parliamentary Library, ‘The 2014 New Zealand General Election: Final Results and Voting Statistics’, Parliamentary Library 175Research Paper, 25 February 2015, www.parliament.nz/resource/en-nz/00PLLawRP2015011/1cb65e1e0919e68b3048392636652383f18cd7c1 (accessed 20 May 2015).
5 Department of Building and Housing, ‘Statement of Intent 2005/2008’, 2005, www.dbh.govt.nz/UserFiles/File/Publications/Sector/statutory-reports/soi-05-08.pdf (accessed 20 May 2015).
6 Department of Building and Housing, ‘Getting the Balance Right: Review of the Residential Tenancies Act 1986’, 2004.
7 Lee Suckling, ‘The Reality of Renting in Auckland’, New Zealand Herald, 13 May 2015, www.nzherald.co.nz/lifestyle/news/article.cfm?c_id=6&objectid=11447820 (accessed 20 May 2015).
8 Department of Building and Housing, ‘Getting the Balance Right’.
9 Ibid.
10 Edward Glaeser, Triumph of the City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, and Happier, Penguin, London, 2011.
11 Andrew Bruce, ‘Long Term Landlords Want Long Term Tenants’, New Zealand Herald, 18 November 2014, www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11359945 (accessed 20 May 2015).
12 Kath Scanlon, Melissa Fernandez and Christine Whitehead, ‘A Lifestyle Choice for Families? Private Renting in London, New York, Berlin and the Randstad’, research report from London School of Economics and Political Science, commissioned by Get Living London, 21 July 2014, www.getlivinglondon.com/gll-thought-leadership-report.pdf (accessed 21 May 2015).
13 Oliver Lerbs, ‘Germany’s Rental Property Sector: A Cornerstone of Housing Market Resilience?’, Housing Finance International, (Summer 2014), pp.38–44.
14 Crockers Property Investment Index, Crockers Property, February 2015, www.crockers.co.nz/media/96555/cpii%20feb%2015%20press%20release.pdf (accessed 19 May 2015).
15 Jon Palmer, ‘Brits Buy Homes, the Germans Rent – Which of Us Has Got It Right?’, The Guardian, 19 March 2011, www.theguardian.com/money/2011/mar/19/brits-buy-germans-rent (accessed 20 May 2015).
16 Ibid.
17 Kaiserslautern Legal Services 176Center, ‘German Landlord-Tenant Law’, Legal Assistance Information, December 2012, www.ramstein.af.mil/shared/media/document/AFD-130109-017.pdf (accessed 20 May 2015).
18 Steven C. Bourassa and Martin Hoesli, ‘Why Do the Swiss Rent?’, Swiss Finance Institute Research Paper No. 07-04, 27 December 2006, http://dx.doi.org/10.2139/ssrn.964637 (accessed 20 May 2015).
19 Swiss Rental Law/Tenancy Agreement, ‘Protection Against Termination in the Case of Renting Residential and Office Property’, www.rental-law.ch/protection-against-termination-in-the-case-of-renting-residential-and-office-property (accessed 20 May 2015).
20 Swiss Authorities Online, ‘Termination of Rental Agreement by the Landlord’, www.ch.ch/en/termination-rental-agreement (accessed 20 May 2015).
21 Richard H. Thaler and Cass R. Sunstein, Nudge: Improving Decisions about Health, Wealth, and Happiness, Yale University Press, New Haven, CT, 2008.
22 Rem Koolhaas, ‘Interview: “We Shouldn’t Tear Down Buildings We Can Still Use”, interview conducted by Marianne Wellershoff, 4 May 2015, www.spiegel.de/international/europe/interview-with-rem-koolhaas-about-the-fondazione-prada-a-1031551.html (accessed 20 May 2015).
23 Paul Collier, Exodus: How Migration is Changing Our World, Oxford University Press, New York, NY, 2013.
24 Shamubeel Eaqub, ‘The Home Affordability Challenge: Suite of Policy Reforms Needed in New Zealand’, NZIER Working Paper 2014/4, July 2014, http://nzier.org.nz/static/media/filer_public/98/7c/987c99b1-d879-48ca-ac2c-58e05307ac5c/nzier_public_discussion_document_2014-04_-_home_affordability_challenge.pdf (accessed 19 May 2015).
25 Maurice Gauder, Claire Houssard and David Orsmond, ‘Foreign Investment in Residential Real Estate’, Reserve Bank of Australia Bulletin, June 2014, www.rba.gov.au/publications/bulletin/2014/jun/pdf/bu-0614-2.pdf (accessed 20 May 2015).
26 Anne Gibson, ‘IRD Nets $258m after Zeroing In on Property Tax Cheats’, New Zealand Herald, 9 May 2015, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11445695177 (accessed 20 May 2015).
27 Financial Action Task Force, ‘Australia Has a Mature Regime for Combating Money Laundering and Terrorist Financing, But Certain Key Areas Remain Unaddressed, Says FATF’, 21 April 2015, www.fatf-gafi.org/countries/a-c/australia/documents/australia-mature-regime-to-combat-money-laundering-terrorist-financing-key-areas-remain-unaddressed.html (accessed 20 May 2015).
28 Beehive.co.nz, ‘Budget 2015: Taxing Property Gains Fairly’, 17 May 2015, www.beehive.govt.nz/release/budget-2015-taxing-property-gains-fairly (accessed 19 May 2015).
29 Salvation Army Social Policy and Parliamentary Unit, ‘It’s the Kiwi Dream We Can No Longer Afford’, www.salvationarmy.org.nz/research-media/social-policy-and-parliamentary-unit/general-election/the-unfolding-housing-crisis (accessed 20 May 2015).
30 Geoff Cooper, ‘Radical Planning Shift Needed for Auckland to Prosper’, New Zealand Herald, 10 July 2014, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11290676 (accessed 20 May 2015).
31 Glaeser, Triumph of the City.
32 Ibid.
33 Ibid.
34 Sophia G. Chak et al., ‘Living at Density: Voices of Hong Kong Residents’, LSE Cities, November 2011, http://lsecities.net/media/objects/articles/living-at-density/en-gb (accessed 20 May 2015).
35 Vaimoana Tapaleao and Anna Leask, ‘All-night Vigil for Home Buyers’, New Zealand Herald, http://m.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11445793 (accessed 20 May 2015).
36 Jonathan Woetzel et al., ‘A Blueprint for Addressing the Global Affordable Housing Challenge’, McKinsey Global Institute, McKinsey & Company, October 2014, www.mckinsey.com/~/media/McKinsey/dotcom/Insights%20and%20pubs/MGI/Research/Urbanization/A%20blueprint%20for%20addressing%20the%20global%20affordable%20housing%20challenge/MGI%20Affordable%20housing_Full%20report_October%202014.ashx (accessed 20 May 2015).
37 Joe Allen and David Oliver, 178Jr., ‘Texas Municipal Utility Districts: An Infrastructure Financing System’, Allen Boone Humphries Robinson LLP, www.performanceurbanplanning.org/files/MUDInfrastructureF inancingSystem.pdf (accessed 20 May 2015).
38 Erin Carlyle, ‘America’s Fastest-Growing Cities 2015’, Forbes, 27 January 2015, www.forbes.com/sites/erincarlyle/2015/01/27/americas-fastest-growing-cities-2015/2 (accessed 20 May 2015).
39 Forbes, ‘Houston, TX’, www.forbes.com/places/tx/houston (accessed 20 May 2015).
40 New Zealand Productivity Commission, ‘Housing Affordability Inquiry’, March 2012, www.productivity.govt.nz/sites/default/files/Final%20Housing%20Affordability%20Report_0_0.pdf (accessed 20 May 2015).
41 Controller and Auditor-General, Auditor-General’s Overview, ‘Auckland Council: How it Deals with Building Consents’, report presented to the House of Representatives, Office of the Auditor-General, April 2015, www.oag.govt.nz/2015/auckland-building-consents/docs/auckland-building-consents.pdf (accessed 20 May 2015).
42 Dublin City Council, ‘Memorandum to Department of Finance: Proposed Vacant Land Levy for the Inner City of Dublin’, July 2013, www.dublincity.ie/sites/default/files/content/Planning/Documents/Vacant%20Land%20Memorandum.pdf (accessed 20 May 2015).
43 Wallace Oates and Robert Schwab, The Impact of Urban Land Taxation: The Pittsburgh Experience, Department of Economics, University of Maryland, November 1996, www.lincolninst.edu/subcenters/property-valuation-and-taxation-library/dl/oates_schwab.pdf (accessed 20 May 2015).
44 Beehive.co.nz, ‘Budget 2015: Taxing Property Gains Fairly’.
45 Nassim Khadem, ‘Stop Rich from Using Negative Gearing to Offset Wages, Save $1b: ACOSS’, Sydney Morning Herald, 16 April 2015, www.smh.com.au/business/stop-rich-from-using-negative-gearing-to-offset-wages-save-1b-acoss-20150416-1mlio1.html (accessed 20 May 2015).
46 OECD, ‘Housing and the Economy: Policies for Renovation’, Part II, Chapter 4 of Economic Policy Reforms 2011: Going for Growth, OECD 179Publishing, 2011, p.16, www.oecd.org/newsroom/46917384.pdf (accessed 20 May 2015).
47 Gareth Morgan, ‘Why Renters are More Rational than Home Owners Chasing the Kiwi Dream’, Gareth’s World, 29 April 2015, https://garethsworld.com/blog/economics/why-renters-more-rational-than-home-owners-chasing-the-kiwi-dream (accessed 20 May 2015).
48 Nick Allison and Chris Parker, ‘Bespoke Residential Housing Demand and Construction Innovation’, NZIER report to BRANZ and the Building and Construction Productivity Partnership, 17 October 2014, http://buildingvalue.co.nz/sites/default/files/Final-NZIER-Report-Bespoke-housing-and-innovation-in-residential-construction.pdf (accessed 20 May 2015).
49 Allison Wachtel, ‘Are Prefab Homes Killing the Construction Industry?’, howstuffworks.com, http://home.howstuffworks.com/home-improvement/construction/materials/prefab-homes-killing-construction-industry.htm (accessed 20 May 2015).
50 Isaac Davison, ‘First-home Buyers Nab New Home Subsidies’, New Zealand Herald, 30 April 2015, www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11440717 (accessed 20 May 2015).
51 Christian Hilber, ‘Deep-rooted Vested Interests are to Blame for Our Housing Crisis’, London School of Economics and Political Science, 5 May 2015, http://blogs.lse.ac.uk/politicsandpolicy/deep-rooted-vested-interests-are-to-blame-for-our-housing-crisis-2 (accessed 20 May 2015).
52 Nicole Aregger, Martin Brown and Enzo Rossi, ‘Transaction Taxes, Capital Gains Taxes and House Prices’, Swiss National Bank Working Papers 2013-2, January 2013, www.snb.ch/n/mmr/reference/working_paper_2013_02/source/working_paper_2013_02.n.pdf (accessed 20 May 2015).
53 Glaeser, Triumph of the City.