Labour says the latest building consents data shows too few houses are being built to meet demand and the Government must take a more hands-on approach.
Statistics New Zealand data shows 1639 consents were issued for new houses and apartments last month, the highest number since May 2008.
However, on a seasonally adjusted basis, consents dropped slightly compared with the month beforeOctober, by 1.5%.
Building and construction spokesperson Raymond Huo said the number of new homes built in the last year was half what it was at the peak in 2004, which is driving up prices.
He said Labour's plan to build 100,000 new affordable houses over 10 years would give first-home buyers a real chance to get into the market.