Too Little Too Late And Nothing More

Temporarily removing duties and tariffs on building materials for home builders is a drop in the ocean, saving only about $3,500 on a new home, says New Zealand First.

“The Government has made housing unaffordable by allowing uncontrolled immigration and letting overseas buyers push up the cost of homes, and now has nothing more to offer,” says Housing spokesperson Denis O’Rourke.

“The Government waited five long years before even recognising that there is a crisis. Yet it offers nothing in this budget to assist first home buyers. Prices are going ballistic and Kiwis wanting their first home have been pushed out of the market by LVR restrictions.

“Potential home buyers need a Government that takes a much more stable and strategic approach to the problems of accessibility and affordability of homes.

“The Government’s market based approach cannot work in Auckland or Christchurch where land availability is not solved by housing accords or by attacking local government development contributions.

“New Zealand First will establish a government housing agency to invest in buying land for housing where it is needed most. Sections would be sold on a long term repayment basis with interest at 2%.

“The Government has also failed to curb the explosion in home rentals, especially in Auckland and Christchurch.

“There are no short term rent controls in Christchurch where the market cannot cope. More than three years after the quakes it is getting worse with the influx of workers for the Rebuild.

“The Government will spend a staggering $80 million to push people out of state rentals, especially in Auckland. These families will be thrust into the nightmare of trying to find an affordable home, and end up paying high rents.

“The $80 million would be better spent on hundreds of new state rental units.

“The Budget demonstrates a Dr Do-little response to New Zealand’s serious home purchase and home rental crisis. New Zealand First will do better,” says Mr O’Rourke.

ENDS

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