Story: Housing and government

Housing tenure (2nd of 2)

In the early 20th century the number of New Zealanders renting and owning their dwellings were reasonably evenly matched. Government initiatives to encourage a property-owning democracy – through cheap state mortgages and other subsidies – saw home-ownership rates skyrocket in the 1920s. They fell during the 1930s economic depression, then rose steadily, peaking at 73.8% in 1991. Since then home-ownership rates have declined. The reasons included increased housing costs, lower housing subsidies, and young people delaying settling down and having children. By the 21st century the ideal of a property-owning democracy was in retreat.

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How to cite this page:

Ben Schrader, 'Housing and government - A property-owning democracy', Te Ara - the Encyclopedia of New Zealand, (accessed 23 July 2024)

Story by Ben Schrader, published 20 Jun 2012