Property company DTZ (NZ) has found a 20-year decline in private home ownership.
DTZ recently completed a report on the housing market (for the Centre for Housing Research) which measures the increase in house prices and trends in building and renting.
Over the past 20 years private home ownership declined from 71.4% to 68% of all households while the number of private-rented households rose from 142,068 in 1981 to 264,501 in 2001. Renting affordability has also declined. Since 1987, total costs for renters climbed 166% but average income only went up 59%.
From 1981 to 2001 pakeha rates of home ownership dropped from 74.2% to 71.9%, Maori ownership dropped from 47.9% to 44%, Asian from 64.8% to 58.8%, while Pacific people's eased from 38.8% to 35.5%.
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