CTU MEDIA RELEASE
09 October 2006

Housing Affordability Report Highlights Importance of Kiwisaver

"Massey University's Home Affordability report highlights the importance of measures like Kiwisaver in assisting New Zealanders with their first home purchase," CTU president Ross Wilson said.

"The Massey report confirms that house prices have significantly outstripped wages - this time by almost 100 per cent."

"The survey once again highlights low wages and low wage growth in New Zealand and the dramatic negative social impact this is having on core New Zealand values like home ownership."

"House prices have gone up around 50 per cent in the past three years, while wages have risen by less than 10 per cent," Ross Wilson said.

"Home ownership is an important New Zealand value and we have to build on measures like Kiwisaver to ensure this continues."

ENDS

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