New Zealand property bubble

The property bubble in New Zealand is a major national economic and social issue. Since the early 1990s, house prices in New Zealand have risen faster than incomes. It has put pressure on public housing providers as fewer households have access to housing on the private market. The property bubble has caused large impacts on inequality in New Zealand, which now has one of the highest homelessness rate in the OECD and a record-high waiting list for public housing.