Immigration Pushes Up House Prices - Peters

New Zealand First claims the Government’s policy of uncontrolled immigration is systematically destroying the New Zealand tradition of home ownership.

Leader Rt Hon Winston Peters said today the latest home affordability survey conducted by Massey University shows that rising house prices, fuelled in part by immigration, are making home ownership an impossible dream for low income New Zealanders.

“For many people, home ownership is their only real security and the lack of a national savings scheme means that many families will be heading towards poverty in their later years.”

Mr Peters said that the net immigration rate is running at about 40,000 a year with most of the new arrivals heading for Auckland, where house prices were now beyond the reach of ordinary New Zealanders.

“The Government’s blind faith in immigration as an economic tool and its population replacement policies are having a devastating effect on the lives of New Zealanders.

“It is a form of madness that will irreversibly change the social fabric of the country, just like Labour’s insane economic and social experiment in the eighties,” said Mr Peters.

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