Trends in Affordable Rental Housing Supply

New Zealand’s private rental market is persistently ranked one of the most unaffordable in OECD comparisons. According to its most recent data, New Zealand is ranked 2nd worst out of 43 nations, with 24% of private renters paying more than 40% of their disposable income for rent in 2024.

This research looks at changes in New Zealand’s rental housing stock – how the share of affordable properties has changed over time and across different regions – to tell us more about the supply side of housing. Affordability for households is the combined result of many changes; wage rates, benefits and allowances, taxes, underutilisation and unemployment all affect incomes; and on the supply side changes in the quantity, quality and cost of private and social housing, as well as demand modifiers like regional and net migration, all impact affordability.