Has New Zealand found the key to the UK’s housing crisis?

It may be difficult to imagine a housing crisis more dismal than the one Britain is experiencing right now, but New Zealand’s has come pretty close. One survey of the world’s most advanced economies showed that NZ was the ‘most vulnerable’ in the world for the less well-heeled to buy homes. Despite this, however, the Antipodeans could yet emerge in better long-term shape.

At the very least, housing ought not to be a point of serious difference between New Zealand’s Labour party government and its National party-led opposition when the country has an election this October. Both major parties have until this late point in the parliamentary term put aside their usual differences to produce what both have said is a residential roadmap out of the morass.

This highly unusual display of bipartisanship was to give ‘homeowners, councils, investors and developers greater certainty’, the government promised. Their conservative foes have been happy enough to give them the benefit of the doubt, although they have also said they will be proposing improvements to the agreement they signed off on.