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

 


Housing bubble can be controlled

16 July 2013

Housing bubble can be controlled without targeting first home buyers

Families do not need to be locked out of buying their first home by the introduction of measures to control house price inflation, Green Party Co-leader Dr Russel Norman said today.

Following the signing of an agreement with the National Government over the use of macro-prudential tools to limit house price inflation, the Reserve Bank looks set to introduce Loan-to-Value Ratio (LVR) restrictions on all loans.

The Green Party’s position is that LVRs should be part of a suite of measures to address home affordability and should be differential, with more lenient ratios for first home buyers than for property investors.

“With smart policy, we can stop the house price bubble without locking Kiwi families out of home ownership,” said Dr Norman.

“LVRs should be more lenient for first home buyers than for property investors. It would be unfair to require large deposits from first home buyers. They’re not the ones forcing up houses prices - speculators are.

“It’s very concerning that John Key doesn’t seem to be fighting for first home buyers and is standing by while the Reserve Bank moves to lock many of them out of buying a home.

“LVRs are a good move but they should be targeted at property investors and speculators, not at families trying to buy a home, and they shouldn’t be the only tool.

“We need a set of measures to ensure that house prices are fair and enough affordable homes are available. These include a capital gains tax (excluding the family home), restrictions on overseas investment in residential property by non-citizen non-residents, a government-led programme of affordable house building, and the Greens’ Progressive Ownership shared equity scheme.

“With practical, smart policies like these we can stop rampant house price inflation, which not only puts home ownership out of reach for many but also increases our international debt and diverts capital investment from the productive economy into housing speculation,” said Dr Norman.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Labour’s
Very Bad Year

While Labour leader David Cunliffe still appears to be in denial about the extent of Saturday night’s debacle, there was hardly a single redeeming feature about the election results for the centre-left. Even the victory by Labour’s Stuart Nash in Napier was the outcome of a strong showing by Conservative Party candidate Garth McVicar that split the centre-right vote... More>>

Election: National Win

With all votes counted National and John Key have won a third term and are close to being able to govern alone if they so choose.

Key has indicated he will still reach out to form a Government with ACT, United Future and Maori Party.

National ended the night on 48 percent, Labour 24.6 and the Greens 10. More>>

Overall Results | Live Results | Predictions |

ALSO:

.

 
 


Perfectly-Timed Anniversaries: Suffrage Day Is Last Chance To Enrol

“The last chance to enrol is Friday 19 September. You can’t enrol on election day.” More>>

ALSO:

Gordon Campbell: On First Time Voting (Greens)

For the last two days, I’ve turned my column over to a couple of guest columnists who are first time voters… Today’s guest columnist is Ana Avia-O’Connor, who will be casting her first time vote on Saturday for the Greens. More>>

ALSO:

Meddling: Aussie Liberals Embroiled In Key Campaign

John Key needs to explain why Australia’s Liberal Party is interfering in New Zealand domestic politics and is encouraging Kiwi voters across the ditch to vote for National just days out from the election, Labour’s campaign spokesperson Annette King says. More>>

ALSO:

SURVEILLANCE:

Election Ad Soundtrack: Rapper Eminem Sues National Party Over Copyright Breach

US rapper Eminem is suing the New Zealand National Party for alleged copyright infringement over unauthorised use of the rapper’s ‘Lose Yourself’ song in an election campaign advertisement. More>>

ALSO:

Big March: Call For An End To Domestic Violence

Hundreds of protesters marched down Lambton Quay to Parliament Monday calling for an end to domestic violence. Wearing white facemasks, waving banners and calling for “safety” for the women and children of New Zealand.. More>>

ALSO:

Pre-Election Chartering: Four New Partnership Schools To Open

Education Minister Hekia Parata today announced the Government has signed contracts to open four new Partnership Schools in 2015. More>>

ALSO:

Werewolf 50 Out Now - The Election Issue: Loss Leaders

Gordon Campbell: A third term requires a mature decision, with eyes wide open. It calls for a conscious vote of confidence… Without trying hard here are about 19 reasons, in no particular order, for not ticking ‘party vote’ National. More>>

ALSO:

Not-Especially New Plans: All Prisons To Become Working Prisons Under National

All public prisons in New Zealand will become full working prisons by 2017, and ex-prisoners will receive post-release drug addiction treatment if National is returned to government, says Corrections Spokesperson Anne Tolley. More>>

ALSO:

Māngere: "False Claim Of Matai Title" - Labour

National must explain why its candidate for Māngere Misa Fia Turner appears to be using a Matai title she is not entitled to, Labour’s MP for Māngere and Pacific Islands Affairs spokesperson Su’a William Sio says. A Matai title is a legally-recognised ... More>>

ALSO:

CPAG Report: No New Zealand Child Should Grow Up In Poverty

Child Poverty Action Group's flagship policy publication Our Children, Our Choice: Priorities for Policy calls for cross party political agreement to underpin an action plan to eliminate child poverty in New Zealand. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news