approach was needed to help finance low-income families into
secure, affordable housing, Council of Trade Unions
economist Peter Conway said today.
The CTU was welcoming
signals from the Government reported today that more may be
done to assist New Zealanders into home ownership.
recent survey showed home ownership rates were down from 72
per cent in 1981 to 68 per cent in 2001. The rate of home
ownership for Maori has fallen in that period from 48 per
cent to 44 per cent and for Pacific peoples from 39 per cent
to 35 per cent.
“Owning your own home has become a
distant dream for many New Zealanders and prospective first
home buyers are demoralised by rising prices and mortgage
interest payments,” Peter Conway said.
In the last year,
house prices have increased by around 22 per cent but wages
have only increased on average by just over two per
“The high cost of housing is a major cause of
poverty and poor health,” he said. “It also means many
low-income families are moving house frequently, which
affects the educational success of
The New Zealand Council of Trade Unions Te Kauae Kaimahi brings together over 350,000 New Zealand union members in 40 affiliated unions. We are the united voice for working people and their families in New Zealand.
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