Aspects of housing finance in New Zealand 1963 - 1973

Abstract

Every year the community adds to its stock of houses and exchanges ownership of individual units of that stock. New house building absorbs about one-fifth of the annual flow of resources that New Zealand devotes to investment: technically, gross domestic capital formation. It is influenced by and in turn influences the level of economic activity elsewhere in the community to a considerable degree. In addition to its economic effects, the quantity and quality of the nation's housing stock has vital implications for social welfare and the quality of life enjoyed by all. The nation's housing goal is set by the community with regard to various technical, quantitative and qualitative criteria which together define the nature of the goal. Operational policies, each intended to achieve efficient standards of performance of specific functions, contribute to the ultimate achievement of broader housing objectives. For example, building codes are devised to ensure a safe and durable standard of housing and training courses are promoted to supply skilled men to build houses.