New Zealand Parliament Passes Historic Housing Reform Bill

The New Zealand government has passed one of the most significant housing reform bills in the country's history. The legislation aims to increase housing supply by streamlining the Resource Management Act and incentivizing medium-density housing in urban areas.

Prime Minister Christopher Luxon called it "a turning point for New Zealand families" and projected that the reforms would enable 50,000 new homes over the next five years.

Opposition parties have raised concerns about environmental impact, while housing advocates have largely praised the move as long overdue.