NZ retirees face bleak future with high rents and housing costs

New Zealand will face a national crisis in declining living standards for retirees if it fails to make affordable public housing a policy priority, research by the University of Otago has found.

The study estimates that more than 750,000 people aged over 65 could be affected by the rising costs of NZ housing and rental accommodation.

Helen Roberts, a lecturer with the university’s department of accountancy and finance, said government data showed that rates of home ownership were declining.