The Real Estate Institute of New Zealand (REINZ) welcomes this morning’s announcement by the Housing Minister, Phil Twyford, that he will be establishing a new Ministry of Housing and Urban Development to provide policy advice on affordable housing, homelessness and urban development.

Bindi Norwell, Chief Executive at REINZ says: “Removing the housing-related aspects from MBIE, the Ministry of Social Development and Treasury and combining them into one ‘super’ Ministry appears to be a sensible move and one that is welcomed by the real estate industry.

“Hopefully this morning’s announcement will mean a cohesive approach to solving New Zealand’s housing issues including supply, affordability and the speed with which properties can be built. Given that home ownership levels are at their lowest point in 60 years, this is a problem that needs to be urgently rectified. If Twyford can achieve the efficiencies he promises by creating this new Ministry, then that can only be a positive move for New Zealand and New Zealanders,” continues Norwell.

“We also look forward to further details from Twyford with regards to the establishment the Urban Development Authority – the delivery agency for both KiwiBuild and large-scale development projects. With a housing shortage of 60,000 properties in Auckland alone, the country desperately needs new house to be built quickly so that more Kiwis can get into affordable properties,” concludes Norwell.

ENDS

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