House building: NZ needs 125,000 homes in 5 years to meet high migration

Westpac Bank says New Zealand will need to ramp up its house building machine to about 125,000 homes over the next five years if it hopes to keep up with rampant migration and mitigate the post-pandemic slowdown.

Westpac senior economist Satish Ranchhod said while some parts of the country were catching up with longer-term underbuilding of homes, the pressure wouldn’t go away in the wake of increasing population growth. Read more

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News category: New Zealand, News Shorts.

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