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

AMA: Scoop's 'Invisible Paywall'

Operation Chrysalis: The Final Countdown - Thanks & There's Still Time To Pledge

Phew! We are now counting down the hours to the end of this crowd-funding campaign at 11pm on Sunday. Thankyou to all those Scoop readers and supporters who have pledged already. You have been awesome. But this is not over yet. More>>

 
 

PARLIAMENT TODAY:

IPCA Reports: Significant Problems In Police Custody

In releasing two reports today, the Independent Police Conduct Authority has highlighted a number of significant problems with the way in which Police deal with people who are detained in Police cells. More>>

ALSO:

Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data. More>>

ALSO:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

RMTU: No Public Submissions On International Government Procurement Deal

“The government is preparing to assent to the Government Procurement Agreement, a World Trade Organisation Treaty which opens up New Zealand Government contracts to foreign companies and closes the door on local businesses and their workers. However the Foreign Affairs, Defence and Trade Select Committee is refusing to take public submissions on the decision.” More>>

ALSO:

Gordon Campbell:
On Pacific Spying

So New Zealand spied on its friends and allies in the Pacific – and has not only been passing on the results to the NSA, but has apparently passed on the details of the Pacific’s relations with Taiwan to our other best friends, the Chinese. On the side, the Key government has also been using the security services to gauge the chances of Trade Minister Tim Groser landing the top job at the WTO... More>>

ALSO:

State Housing Transfer: Salvation Army Opts Out

The Salvation Army has decided against negotiating with Government for the transfer of Housing New Zealand stock.
More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news