Profound structural changes in the new Member States in the past 15 years alongside with sub stantial progress towards the opening of markets early in the transition process (mainly through the implementation of the so-called Europe Agreements) have led to a tremendous increase in trade with the new Member States.
The land component of housing costs in New Zealand has grown considerably over the past 20 years with land now accounting for more than 60 percent of the total cost of a new dwelling in Auckland, and around 50 percent  4  Auckland Council (2013).