Describes what could develop in the future housing market if the current rate of construction fails to increase.
Empty Nests, Crowded Houses: Building for an ageing population is our latest publication on housing affordability in New Zealand. It describes what could develop in the future housing market if the current rate of construction fails to increase. The report is based on demographic projections which predict that under a range of scenarios, the population is likely to be larger and older. This in turn will increase future housing demand as a larger population will demand more houses, and an older population often leads to a decline in household size, so there are also less people per household. The building industry must have the flexibility to respond to these impending challenges. To ensure housing supply meets the demands of the future population, we must build more – and it must start now.