Affordable housing

Affordable housing is the name given to housing which can be purchased at less than prevailing market rates where the buyer(s) meet conditions such as having a job, a deposit, household income within certain limits and is prepared to make a commitment not to make a near term sale. Provision of affordable housing can be a condition placed on private developers or it can be supported by the Government, local council or iwi. Debate exists as to whether the prices called affordable are in fact that but the promotion of this housing category is based on the idea that its construction will increase the housing stock. Important steps towards a solution of New Zealand's housing shortage and an increase in home ownership are the use of prefabrication and the acceptance of much greater densities than has been typical in New Zealand.