Global exposure and Auckland's housing market

This is a story of how economic reforms in New Zealand since the mid-1980s changed conditions for investment in the property sector and have periodically distorted Auckland's housing market. The contribution of immigration and funds that migrants have brought with them, and their strong preference for Auckland as a destination, also help to account for the growth of Auckland and activity levels in the housing market. The opening up of the New Zealand economy in the last two decades has exposed Auckland to growth pressures that are now evident in the city's labour and housing markets.