New Zealanders are getting their first look at the latest housing data this week, and it paints a gloomy picture.
The Reserve Bank of New Zealand has released its latest quarterly housing report, and the numbers are staggering.
Auckland is home to almost 2.5 million people, while Wellington, Wellington South, Christchurch and Wellington North are all home to around 2.1 million.
That is a lot of people who are living in crowded, expensive housing.
The number of people living in rented accommodation is rising rapidly, too.
There are now nearly a million people living on the streets.
This is what Auckland’s housing population looks like, according to the Reserve Bank.
New Zealanders in Auckland, Wellington and Christchurch are also the least likely to own their own home.
This is largely due to the shortage of homes in the country.
“The shortage of affordable rental housing has made it difficult for families to build a secure home, particularly in Auckland,” said New Zealand Housing Minister Amy Adams in a statement.
“It is no surprise that rental households are particularly vulnerable to the rental crisis.”
Rental homes in Auckland are also among the most expensive in the world.
Auckland rents have risen by about 40 per cent since the start of the decade, to $3,800 a month.
Wellington rents have also risen by more than 40 per in the same period, to about $3.60.
In Wellington, rents have increased by more at around 40 percents.
The average rent in the city has increased by almost 20 per cent, to nearly $3200 a month, while in Christchurch it has risen by almost 40 percent, to almost $3100 a month.
“Auckland’s housing shortage has been exacerbated by the construction of houses in areas that have been hit hard by the Canterbury earthquakes.
The Canterbury earthquake has also caused a severe shortage of housing.
The number one issue for renters is a lack of affordable, affordable rental homes. “
The rental market is expected to expand by almost 10 per cent over the next year as the Canterbury quakes continue to recur,” said the Reserve Board.
The number one issue for renters is a lack of affordable, affordable rental homes.
This is likely to continue for some time.
The New Zealand housing shortage is also evident in the affordability of homes for other residents.
The average rent for an Auckland apartment is $2,400 a month ($2,500 in Christwell and $3125 in Auckland).
This is nearly 10 percent more expensive than the average rent that New Zealand residents pay in Canterbury.
In Wellington a rental apartment costs $3120 a month for two bedrooms, $3160 for a three-bedroom.
In Christchurch this is $3190.
In Canterbury, it is $3000 a month in the expensive area.
“This is a major concern for Auckland renters as they struggle to pay their mortgage, rent or even their property tax,” said Dr Peter Whitehouse, an Auckland-based real estate agent.
“If we are to get the right level of affordable housing for our population, we need to be able to afford the average cost of a rental property in Auckland.”