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

 


Mismanaged LVR process hurts first home buyers and regions

Mismanaged LVR process hurts first home buyers and regions

The Government has completely mismanaged the mortgage lending limits process and failed to consider the impacts on first home buyers or regions where house prices are stagnating, Labour Leader David Cunliffe says.

“Mortgage lending limits are going to lock thousands of first home-buyers out of the market. Alongside National's failed housing policy, they will create a generation of renters. Labour believes all Kiwis should have a fair chance at the home ownership dream. That dream is disappearing under National.

“Lending limits are National's failed attempt to solve the Auckland housing problem. But it is families in places like Marlborough, where prices are falling, that are being asked to fix it by saving more for a deposit.

“Why should a family in the regions have to stump up thousands of dollars more for a deposit to solve the housing problem in Auckland? That’s John Key’s job. If he really believes people in the regions think his policy is fair then he is completely out of touch.


“The paper trail shows the Government didn't consider the impacts on first home buyers until a month after they had signed the LVR agreement with the Reserve Bank. It is also clear they didn't consider the impacts on regions.

“Labour will make it clear to the Reserve Bank it must exempt first home buyers when using LVRs and consider targeting those regions where house price inflation is high.

“We will also fix the twin drivers of skyrocketing house prices -- rampant property speculation and the shortage of affordable homes. We will clamp down on speculators through a capital gains tax and build 100,000 affordable first homes through KiwiBuild.

“National is a Government that backs Auckland speculators. Labour is the party of first home buyers across the country,” David Cunliffe says.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Open Source // Open Society - Full Coverage

Gordon Campbell:
On The Reserve Bank And Auckland Housing

The ‘crisis – what crisis?’ response by the government to the Auckland housing price bubble is no longer acceptable.

So says Reserve Bank governor Grant Spencer – who used unusually frank language in his speech and subsequent interviews yesterday to call for a capital gains tax, and to generally chastise central and local government for their inaction on a threat to the country’s economic health and financial stability.

That threat has been real for some time. The housing price bubble has already created a currency bubble... Undaunted, the government keeps calling this situation a success story. More>>

 

PARLIAMENT TODAY:

Bangladesh: GCSB Dragging NZ Into Human Rights Abuses

The New Zealand government should stop providing intelligence assistance to Bangladeshi security agencies that are known to systematically engage in human rights abuses, said the Green Party today. More>>

ALSO:

Troops Heading To Iraq: Government Must Come Clean On Deployment

New Zealanders deserve more than to hear about their troops’ deployment overseas from Australian media, Opposition Leader Andrew Little says. “News from Australia that Kiwi troops are on their way to Iraq this week is another example of the culture of secrecy and unknown protections around the deployment.” More>>

ALSO:

Image: Strikers And Protestors Join Outside McDonald's

A group of protestors took to McDonald’s Manners St today as a part of the international fast food workers day of action to end zero hour contracts. More>>

ALSO:

Greens: Special Education Funds Not Spent

More than $32 million of funding for children with special needs has not been spent by the Government, despite families of children with special needs complaining for years that they’ve been denied the support they deserve. More>>

ALSO:

John Key: Pre-Budget Speech To Business NZ

So this Government will remain relentlessly focused on improving the competitiveness of our economy... We will continue to give businesses a platform to invest, grow and create jobs in the knowledge they will be backed by a clear and consistent government policy programme. More>>

ALSO:

Multimedia: Andrew Little’s Response To John Key’s Pre-Budget Address

Labour Party leader Andrew Little spoke today on John Key’s pre-budget address this afternoon in Wellington. Little said National has had seven years to achieve a surplus and Kiwis have “fufilled their end of the bargain.” More>>

Surplus Baggage: Key Backs Off ‘Artificial Target’

John Key’s attempt to redefine his cornerstone promise of two election campaigns as an artificial target suggests his other promises are works of fiction, says Labour’s Finance spokesperson Grant Robertson. More>>

ALSO:

Gordon Campbell: On UE Pass Rates And University Dropout Rates

Houston, there is clearly a problem with (a) the plunge in pass rates for University Entrance qualifications, which has been especially steep among Maori students and also a problem with (b) the failure rates for Maori students among those who reach university... Unfortunately the two problems seem related. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news