Main finding
After Auckland's construction boom, quality-adjusted rents were substantially below the estimated path without reform.
Preferred estimate: the no-reform rent path was about 28% higher after six years
Can Zoning Reform Reduce Housing Costs? Evidence from Auckland
Greenaway-McGrevy & So
Most important limitation
This is one treated city, and the magnitude varies across specifications.
From the publication
Inspect the authors' figure directly
Figure 3 · Synthetic and actual rental price indexes
The actual and synthetic rent indexes track closely before 2016 and separate after the reform.
REDRAWN FROM STUDY DATAFigure 3 · Synthetic and actual rental price indexes
| Year | Actual Auckland | No-reform comparison |
|---|---|---|
| 2000 | -0.632 | -0.621 |
| 2001 | -0.611 | -0.61 |
| 2002 | -0.531 | -0.57 |
| 2003 | -0.456 | -0.517 |
| 2004 | -0.435 | -0.463 |
| 2005 | -0.426 | -0.426 |
| 2006 | -0.406 | -0.372 |
| 2007 | -0.353 | -0.316 |
| 2008 | -0.314 | -0.275 |
| 2009 | -0.311 | -0.27 |
| 2010 | -0.276 | -0.236 |
| 2011 | -0.225 | -0.211 |
| 2012 | -0.187 | -0.182 |
| 2013 | -0.151 | -0.173 |
| 2014 | -0.108 | -0.145 |
| 2015 | -0.046 | -0.094 |
| 2016 | 0 | 0 |
| 2017 | 0.04 | 0.078 |
| 2018 | 0.068 | 0.151 |
| 2019 | 0.094 | 0.246 |
| 2020 | 0.117 | 0.307 |
| 2021 | 0.145 | 0.394 |
| 2022 | 0.167 | 0.47 |
How this study is used
Claims this evidence supports
Reference
Greenaway-McGrevy & So (2026). “Can Zoning Reform Reduce Housing Costs? Evidence from Auckland.”