Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Foreign buy-up wrecks home-ownership hopes


Foreign buy-up wrecks home-ownership hopes

Land-grabbing foreign speculators are stealing the own-your-own-home dreams of thousands of young and less well-off New Zealanders, Green Party Co-leader Rod Donald said today.

The latest AMP Home Affordability Survey indicates that it is becoming increasingly difficult for New Zealanders to afford to own their own home.

“A significant factor in the skyrocketing price of property is the buy-up of pristine coastal land by overseas-based investors who want a haven from the misery they’ve helped create in their own countries,” said Rod Donald.

“This in turn artificially inflates the whole housing market, pushing even modest properties out of the reach of many New Zealanders.

“We have no problem at all with foreigners who are prepared to move to this country and become New Zealand citizens. What we don’t want are bolt-hole billionaires driving up land prices and then just using Aotearoa as a holiday-home.”

Rod Donald is preparing a private member’s bill which would change the Overseas Investment Act to ban the sale and long-term lease of New Zealand property to foreign investors.

“The Government should also be encouraging the increasing numbers of people who cannot afford to buy a home by increasing the stock of public housing and introducing more schemes to allow lower-income people to raise the deposit for their own homes.”


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news