Former leader of the opposition, former leader of the New Zealand National Party and Governor of the Reserve Bank of New Zealand is sharing his thoughts on the housing market crisis to Sun Media's newest platform, Buzzworthy.

In this week's ‘Future Buzz' Don Brash attends the in-studio interview with producer Ross Crowley to chat all things housing across New Zealand, as a newly branded Tauranga local.

'New Zealand's [housing market] has been regarded as one of the highest risk in it,” says Brash.

Brash adds relative to rent and income, New Zealand house prices have risen so much to the point they are 'way out of line”.

'This therefore makes us the riskiest market in terms of a fall.

'Personally, I think we need a fall [in the market]. This would hurt a number of people who are highly leveraged and have recently bought a home with a big mortgage, but let's face it, at the moment, 40 to 45 per cent of New Zealander's have effectively no realistic chance of ever owning their own home.”

'That's a scandal, and has serious social and economic consequences.”

Brash says the conventional way of analysing the housing market is to compare the median house price in an area with the median household income.

'A median house price of three times the median household income is considered a good income and is affordable housing.

'When John Key became Prime Minister in 2008, the median household income to median income ratio was six times, which he considered as ‘wildly too high.'”

'When National left office in 2017, it was nine times.

'Currently, last November it was 11 times in Auckland. In Tauranga, it is very similar. Median house price in Tauranga compared with the median income was about 10 to 11 times.

'That is outrageously expensive, but it is the national standard.”

To find out more about the housing crisis from one of New Zealand's most well-known politicians and respected economists, visit Buzzworthy website for the full episode.