New Zealand has the most unaffordable housing in the OECD, according to the International Monetary Fund's latest report.
On the house price to income ratio, New Zealand is the top-ranked country ahead of Austria, Sweden and Germany.
Australia is in 10th place.
Labour's housing spokesman, Phil Twyford, says it's a gold medal the country doesn't need.
"Shamefully, New Zealand also boasts the second highest rate of house price increase, with only properties in Sweden rising faster," he said.