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Home ownership dream fading under National

Phil Twyford
Housing Spokesperson

3 December 2013

Home ownership dream fading under National

The Kiwi dream of home ownership is turning into a nightmare under this Government, new census figures show, says Labour’s Housing spokesperson Phil Twyford.

“It is time National woke up. The home ownership rate has declined from 67 per cent in 2006 to 65 per cent last year. In Auckland it is down 2.4 per cent to 61 and in Gisborne it is below 60 per cent. The Kiwi dream of owning your own home is fading fast.

“The Government needs to step up, yet all Nick Smith seems inclined to do is wish the problem away.

“It is set to get much worse. LVR mortgage restrictions are shutting first home buyers out of the market and already cutting the supply of new builds.

“Meanwhile speculators are making huge tax-free gains and snapping up the houses first home buyers can no longer afford

“In Government Labour will turn the home ownership dream back into reality. We will exempt first home buyers and certain regions from LVRs and clamp down on speculators through a capital gains tax and restrictions on overseas investors. We will also build 100,000 new affordable homes in a decade to fix supply.

“The Kiwi dream is turning into a nightmare. National needs to wake up and fix it,” says Phil Twyford.

ENDS

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