Hugh Pavletich, one of the report’s authors, said housing had become more affordable in Australia over the past year as prices fell amid tightening credit. The prime minister told reporters Wednesday that the government would still build 100,000 housing units in a decade, but that its interim targets would be scrapped. The government now expects to have 300 new homes built under the plan by July, rather than the original plan for 1,000. Phil Twyford, the housing minister, said Wednesday that there would be a “recalibration” of the policy, noting that demand for the new homes in some areas had been weaker than expected. KiwiBuild has faced criticism from political opponents that even its cheapest houses are too expensive for first-time buyers who had been shut out of the market.

Source: New York Times January 31, 2019 10:07 UTC