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

 


First home buyers shut out as LVRs bite

Phil Twyford
Housing spokesperson

10 April 2014

First home buyers shut out as LVRs bite

The bad news continues for young Kiwis as the latest Core Logic report shows the proportion of first home buyers has declined since LVR lending restrictions came into force, says Labour’s Housing spokesperson Phil Twyford.

Twenty two centres across the country have had a drop in first home buyers while only four have increased slightly. The worst hit areas are Queenstown Lakes, Rotorua and Napier with buyers down over 5 per cent.

“This is an on-going disaster for young families who want to own their own home.

“First home buyers are collateral damage in the Government’s on-going failure to get a grip on the housing crisis.

“And as the Core Logic data shows, regional New Zealand is badly affected. Ninety five per cent of house price inflation is happening in Auckland and Canterbury, and yet first home buyers in places like Napier, Hamilton and Dunedin are taking an unnecessary hit.

“The housing crisis will intensify as interest rates head to 8 per cent and desperate first home buyers are driven into the arms of the finance companies,” says Phil Twyford.

“National refuses to tax speculators through a Capital Gains Tax and refuses to build large numbers of affordable houses. Their policy is to just tinker with the planning laws, an approach which will guarantee the housing crisis continues unabated.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Mt Eden Prison: Serco Inquiry Extended

A two month delay to the Government investigation into prison fight clubs shows the extent of problems within the Serco circus, says Labour’s Corrections spokesperson Kelvin Davis. More>>

ALSO:

Health And Safety: Late Addition Of National Security Provisions A Concern

The New Zealand Law Society has expressed its significant concerns at the last-minute addition to the Health and Safety Reform Bill of provisions for a closed material procedure for court proceedings where national security is involved. More>>

ALSO:

Rugby And Beer: World Cup Alcohol Bill Passes

ACT MP David Seymour’s Sale and Supply of Alcohol (Extended licensing hours during Rugby World Cup) Bill completed its third reading by 99 to 21... More>>

ALSO:

Gordon Campbell: On The Flag Campaign

So far, the public has treated the government’s flag campaign with something between disinterest and disdain. Most New Zealanders have instinctively seen through the marketing hype involved. More>>

Change For 2017: Local Govt To Decide On Easter Sunday Trading

The Government is to enable local communities, through councils, to decide whether retailers can open on Easter Sunday, Workplace Relations and Safety Minister Michael Woodhouse announced. More>>

ALSO:

(And Targets Worse Than Australia's): Foresters Abandoning Emissions Trading Scheme

The Government’s gutting of the Emissions Trading Scheme has caused foresters to leave and emissions to rise, says Labour’s Climate Change spokesperson Megan Woods. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news