Parliament

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

 

House prices keep rising despite LVRs

Phil Twyford
Housing spokesperson

5 February 2014

House prices keep rising despite LVRs

Figures from Barfoot and Thompson and realestate.co.nz are yet more evidence house prices are getting even further out of reach of everyday Kiwis, in spite of LVR (loan to value ratio) lending limits, says Labour's Housing spokesperson Phil Twyford.

“House sales data show prices continue to increase with speculators and the big end of town filling the void left by first home buyers, who have been shut out of the market.

“First home buyers know they are missing out on climbing the housing ladder. It is especially galling when speculators, both offshore and domestic, are making a killing.

“National’s failure to tackle the fundamentals of the housing crisis has meant that even LVRs cannot dampen the market, leaving the Reserve Bank no choice but to raise interest rates. This will only make the home ownership dream even more of a nightmare.

“Last year John Key said of LVRs: ‘I don't think that it's a tool that should be used to write a bunch of higher LVRs for rich people and lock out a whole lot of first-home buyers’. But that’s exactly what they are doing.

“National’s possum-in-the-headlights approach to housing is creating a generation of renters,” says Phil Twyford.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Labour’s Policy Resurgence, And Alex Chilton

For much of this year, almost all the diversity in politics has been down at the retail end, where apparent differences reside in the tone, and in details. Up at the wholesale end – in the economic settings that drive the engine of politics – the story has been of convergence, exemplified by Labour and the Greens signing up to the Budget Responsibility Rules...

However, and only three months out from the election, there is finally some genuine good news. Twice this week, Labour has released policy that has well and truly gotten up the nose of the sort of lobby groups that it has spent most of 2017 trying to cultivate. More>>

 

Right In The Thiels: Just 12 Days In NZ Before Citizenship

DIA have received advice from the Ombudsman that a detail originally redacted from the citizenship file of Peter Thiel released in January for privacy reasons should be made available by 27 July. More>>

ALSO:

Domestic Violence And Teachers: Members’ Bills Ballot

The ballot was held, and resulted in the following bills being drawn:
54 Sentencing (Domestic Violence) Amendment Bill - Hon Nanaia Mahuta
16 Education (Teaching Council of Aotearoa) Amendment Bill - Chris Hipkins More>>

ALSO:

Legislation: Point England Housing Bill Passed

The passage of the Point England Development Enabling Bill through Parliament this evening will benefit Auckland with additional housing, help resolve Ngāti Paoa’s Treaty claim and improve the local environment and recreation facilities, Building and Construction Minister Dr Nick Smith says. More>>

ALSO:

Cyberducation: Digital Curriculum Launch And Funding Package

Consultation on new digital technologies content for the New Zealand Curriculum and Te Marautanga o Aotearoa, the Māori-medium Curriculum, was launched today by Education Minister Nikki Kaye. More>>

ALSO:

PM's Press Conference: Red Socks And Secret Tapes

Prime Minister Bill English began his post-cabinet press conference by explaining how well the National Party's annual conference went. He also mentioned today's announcement of changes to the EQC disaster insurance legislation and wished Emirates Team New Zealand well in the America's Cup. More>>

Max Rashbrooke: On How To Make Government More Open

International surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog