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NZ tops list for unaffordable housing

NZ NewswireNZ Newswire 31/08/2016

New Zealand has the most unaffordable housing in the OECD, according to the International Monetary Fund's latest report.

On the house price to income ratio, New Zealand is the top-ranked country ahead of Austria, Sweden and Germany.

Australia is in 10th place.

Labour's housing spokesman, Phil Twyford, says it's a gold medal the country doesn't need.

"Shamefully, New Zealand also boasts the second highest rate of house price increase, with only properties in Sweden rising faster," he said.

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