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Rising housing costs 'eat up pay rises'

NZ Newswire logoNZ Newswire 12/03/2017

Housing costs increased by $3 billion last year, or about $30 a week, according to figures just released by the Labour Party.

Over the same period, 2016 compared with 2015, average household income increased by $32 a week.

The data was put together by the Parliamentary Library, with housing costs calculated on mortgage payments, rents, rates and insurance.

"Kiwi families can't get ahead when the housing crisis is eating a hole in their wallets," said Labour leader Andrew Little.

"The extra $3b we spent on housing last year was money that couldn't be spent on medical bills, education, or keeping our homes warm and dry."

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