Property prices in New Zealand have soared by the most among OECD nations in the past 12 months, rising about 30%, as investors cashed in on historically low interest rates and cheap access to capital under the government's pandemic-inspired stimulus spending.
"The housing crisis in Aotearoa is also a human rights crisis encompassing homeownership, market renting, state housing and homelessness," Hunt said, using the country's indigenous Maori name.
The rising inequality inflamed by the housing crisis is arguably the biggest political challenge facing Ardern's centre-left Labour-led government. The 41-year-old's popularity soared with her response to the pandemic that kept nationwide cases to barely 2,500 and led to an emphatic election win last year.
Ardern defended her government's record on housing saying it was pulling every lever to ensure everyone gets a warm, dry home.
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