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New Zealand National Party First Home Buyer Grants Slammed


By Hugh Pavletich
Co author - Annual Demographia International Housing Affordability Survey
Performance Urban Planning
24 August 2014

New Zealand

The first home buyers grants announced by Prime Minister John Key at the launch of the National Party Campaaign should properly be regarded as a Land Speculators Welfare Scheme … paid for unnecessarily out of young first home buyers savings and by excessively taxed taxpayers.

This is a cynical attempt by the National Party to buy votes at others expense.

It only fuels housing inflation.

It is likely the Reserve Bank will need to respond by lifting deposit requirements further and increasing interest rates.

This will in turn lift the $NZ dollar, damaging the export sector further.

So far this year, the dairy sector has taken a 40% hit in prices … the logging sector a 50% hit.

New Zealand economy is extremely vulnerable (refer … New Zealand’s Bubble Economy Is Vulnerable and China: Big Bubble Trouble ) .

With this cynical approach to the housing issue, Mr Key is punishing our exporters as well, by not allowing the $NZ to adjust to these dramatic price falls.

This will cost jobs … and risk putting vulnerable exporters to the wall … unnecessarily.

The National led Government is well aware the housing problems are impediments to affordable new supply.

Deputy Prime Minister Bill English made clear at the major October 2012 Government Housing Announcement, that the focus must be on …

*land supply
*infrastructure financing
*construction costs

This was followed up with the Housing Accords legislation … and weak Accords entered in to with a number of Local Authorities by Housing Minister Dr Nick Smith.

All talk and no action.

The National led Government promised some 6 years ago in the lead up to the 2008 election campaign that it would deal with the impediments to affordable new housing supply.

Soon after, then Housing Minister Phil Heatley made this clear at the time of the release of the Demographia Survey early in 2009. ( refer … Bringing better balance to the housing market ) ..

Prime Minister “can kicker” John Key has always been “flaky” on housing (refer Housing: Mr Key – Get on the Programme ).

Mr Key is more interested in looking after the interests of Land Speculators and engaging in Crony Capitalism (refer … refer YouTube Video ... CRONY CHRONICLES: I WANT TO BE A CRONY ).

The problem for Mr Key, is that the public can see through his cynical Crony Capitalism.


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