Price effects of a voluntary affordable housing program
Author:Santiago Bucaram, Mario Andres Fernandez, Gonzalo E Sanchez
Source:New Zealand Association of Economists
Housing prices in Auckland, New Zealand, have persistently increased in the last decade, to fast-track development of housing, Special Housing Areas (SHA) were created in September 2013 and were supposedly a measure to mitigate Auckland’s housing crisis and improve affordability. SHA resemble Inclusionary Zones initiatives implemented in the United States and Europe as most development projects had to provide at least 10 per cent affordable housing or at least target specified population groups. However, it is not clear the extent of the success (or failure) of SHA as they were disestablished by May 2017 and there is no empirical research on the subject.