Housing activity still slowing
Wellington reporter More New Zealanders are . now having to pay nearer > the true cost of housing, according to the annual report •of the National Housing 'Commission. The last year had been ' characterised by a continued slowing down of all 1 activity in housing, the report said. Sales of houses had continued to decline and [the demand for new houses I had showed an even more : rapid downturn than the previous year. The cost of servicing [loans, the increasing gap between deposit and purchase price, together with ihe fall in real incomes, meant that people were now less willing to commit themselves to paying a substantial proportion of thefr in-
come to achieve horn* , ownership, the commission ’ said Those who already owned j a house seemed unwilling to , move, mainly through the ' difficulties in selling and the 1 increased cost of financing a ‘ new house. I The increasing numbei of ' permits issued for additions ’ and alterations showed that J people were adapting their . existing dwelling to cater for family requirement* . rather than shift to a new house. > This unwillingness re- , fleeted a slowdown in inter,'nal migration, the commis- ! sion said. People were less willing • than previously to take up ■ employment promotions [where transfers were in •'volved.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19780623.2.35
Bibliographic details
Press, 23 June 1978, Page 3
Word Count
209Housing activity still slowing Press, 23 June 1978, Page 3
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.