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Ashley Church: 'That's not an excuse not to do this'
The Government's Kiwibuild homes might still be out of reach for its target market.
An MBIE briefing paper suggested the $500,000 houses might not even be affordable for first home buyers within 10 years,
It estimated a household income of $114,000 a year is needed to buy one of these houses, but the current median is $90,000.
Property Institute CEO Ashley Church says inflation always meant prices were going to steadily climb.
"A new home that costs 600 grand now for a first home buyer, is going to cost in 10 years time, in 2028, somewhere over a million bucks. That's actually not an excuse not to not do it, it's actually a reason why we should be doing this right now."
LISTEN TO ASHLEY CHURCH TALK WITH MIKE HOSKING ABOVE
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By Newstalk ZBThe Government's Kiwibuild homes might still be out of reach for its target market.
An MBIE briefing paper suggested the $500,000 houses might not even be affordable for first home buyers within 10 years,
It estimated a household income of $114,000 a year is needed to buy one of these houses, but the current median is $90,000.
Property Institute CEO Ashley Church says inflation always meant prices were going to steadily climb.
"A new home that costs 600 grand now for a first home buyer, is going to cost in 10 years time, in 2028, somewhere over a million bucks. That's actually not an excuse not to not do it, it's actually a reason why we should be doing this right now."
LISTEN TO ASHLEY CHURCH TALK WITH MIKE HOSKING ABOVE