NZ world leader in unaffordable housing

The National Government has made New Zealand a world leader – in unaffordable housing, Labour’s Housing spokesperson Phil Twyford says.

“The latest International Monetary Fund report shows New Zealand had the world’s second fastest growth in house prices at the end of last year, second only to Qatar.

“New Zealand also claimed the dubious honour of having the fastest growing gap between house prices and wages.

“Every week there is some new report that shows the housing crisis is out of control. Yet the Prime Minister continues to say there’s no crisis and Housing Minister Nick Smith thinks houses are becoming more affordable.

“National has made it very clear they are willing to stand by while middle New Zealand kisses goodbye to the Kiwi dream of affordable home ownership. Instead of the bold reform that is needed, they trot out one half-hearted policy after another designed only to make it look as if they are doing something.

“Fixing this crisis will take bold reform. Labour has the policies, and the political will. We will:

  •   •  Launch a massive government-backed building programme of affordable houses for first home buyers.

  •   •  Crack down on speculators starting with a ban on non-resident foreign buyers purchasing existing homes.

  •   •  Reform restrictive land use rules that drive up section prices and choke off affordable housing.

  •   •  Guarantee all rental properties are warm and dry, and allow renters more security of tenure.

“National is out of touch with the majority of Kiwis who live in rentals, with Generation Rent, with families who are mortgaged to the hilt, with all the parents and grandparents who hate the fact their children may never own a home, and with all the kids growing up in campgrounds and garages,” Phil Twyford says.

SOURCE: Office of Phil Twyford




4 Comments

Fenderbender, before you vote...

Posted on 04-05-2016 08:08 | By groutby

...do please take a close look at what you are voting for. It’s really easy to throw stones from the opposition benches, but looking at Mr Twyfords four points in his release..1) Where does the funding, labour etc come from?..at what cost to the taxpayer long term? 2) Populist point of view.."blame the foreign buyers"..let’s just say Asians here, sadly racist I would have thought..3) The land reform surely be at a local government level?..but i do agree cost and "red tape" is restrictive , and 4)if rental properties are not already warm and dry, there are ways guaranteed in law to ensure landlords comply with minimum requirements, if more heating options were forced upon landlords they will simply want/need to increase the rent to compensate, and, can the tenants afford to use them if installed?..oh i forgot, of course that will be Mr Key’s fault as well!

Fenderbender

Posted on 03-05-2016 17:03 | By Kenworthlogger

Governments do not determine house prices.. The market does. Otherwise if the goverment did determine house prices we would have really cheap houses. Simple really.

ReInventining old news

Posted on 03-05-2016 10:48 | By Towball

This is just another political head seeking some acknowledgement with another half glass approach. Mostly damage is done and Key is being directed by reserve bank and the likes of because to lower the cash rate is the first step in moving forward but Government and Reserve Bank making to much money at present to encourage any form of change. Property and foreign scab labour fraud are the cash cows until Key can rewrite the rules for his next crusade. Simple answers just have self gratifying,empowering people dictating to the masses surrounding themselves in the busom of imagrants for support and rapidly outstripping traditional NZ custom and beliefs. Eg home ownership entitlement to a fair paying job retirement quality of life.

A Legacy

Posted on 02-05-2016 19:07 | By Merlin

This will be John Key’s legacy a slow boat to China on housing.Band aids will not fix the problem with out urgent action now not waiting for more data on foreign buyers.My vote can swing on how feel I on the policies put before us and this performance on housing is starting to make the pendulum swing in another direction.

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