Housing affordability is a prominent issue across the world. There is a growing concern that the number of people experiencing homelessness is rapidly increasing. As a solution, many countries, including Australia and New Zealand, have introduced housing policies aimed at providing affordable houses to low-to-medium income families. Over recent years, several affordable housing policies have been introduced in both Australia and New Zealand, including public housing initiatives, rental subsidies, accommodation supplements, state housing programmes and the provision of social housing. New Zealand launched the KiwiBuild programme in 2018 to increase housing affordability. Unfortunately, in 2019, KiwiBuild was unable to deliver its targeted primary objectives set by the Government. This study features a comparative analysis, primarily focusing on comparing and contrasting affordable housing policies in Australia and New Zealand. Subsequently, it discusses the reasons why the KiwiBuild programme failed. It makes recommendations based on policies used in Australia with a view to improving affordable housing policies in New Zealand. This research contributes and adds to the existing body of knowledge about affordable housing policies in both Australia and New Zealand. The recommendations will be helpful for future researchers who wish to develop workable policies to assist with affordable housing-related issues in New Zealand.