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


NZers priced out of their home market - Greens

31 July 2006

New Zealanders priced out of their home market - Greens

Foreign speculators are helping to steal the own-your-own-home dreams of thousands of young and less well-off New Zealanders, Green Party Housing Spokesperson Sue Bradford says.

The latest Wizard Home Loan statistics show that homeownership has dropped by 12 percent overall - 21 percent in those with personal incomes under $40,000 a year.

"New Zealanders, particularly young people and those on low incomes, are not able to compete in a housing market that has been artificially inflated, particularly by wealthy overseas-based investors who have been buying up our land and houses.

"The Green Party has no problem at all with foreigners wanting to buy residential property here as long as they are prepared to live here for at least six months of each year. What we don't want is for this country to become just a holiday home for billionaires or an investment opportunity for overseas landlords.

"The effect that years of this free-for-all foreign-owner spend-up has had on property prices is clearly evident in these latest figures," Ms Bradford says.

"The Green Party believes it is clearly time for the Government to investigate the option of introducing a capital gains tax on all but the family home.

"The Government should also be encouraging homeownership by increasing the stock of public housing. A larger pool of state houses will mean that owning private rentals becomes a less attractive option for investors. This could help to soften the almost impossibly high cost of entering the home ownership market.

"We also support introducing more Government moves to increase the number of low and middle income people to own their own homes.

"We don't want to live in a country where the dream of home ownership can only come true for the rich and for foreign investors," Ms Bradford says.


© 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>>


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>>


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>>


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>>


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>>


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



Search Scoop  
Powered by Vodafone
NZ independent news