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

 


QV figures show two-track housing market

QV figures show two-track housing market

The two-track housing market that has developed under National is underlined in QV’s latest report, Labour’s Housing spokesperson Phil Twyford says.

“QV’s index shows many homeowners in the regions are facing declining equity in their properties, while in Auckland and Canterbury home ownership has become a distant dream.

“Looking at house prices over the last six years it is clear that values in Auckland and Canterbury have increased dramatically, yet the rest of the country has been going backwards.

“Auckland house prices have gone up 30% and Canterbury about 20% when you adjust for inflation. The rest of the country has seen values decline over that period. In areas such as Tauranga and Wellington they have been flat-lining but in other areas – the Far North (-26%), Southland (-17%), Waitomo (-33%)* ­– have fallen sharply.

“The Government’s failed housing policy is exacerbating this two-track housing market. Auckland and Canterbury are struggling to build their way out of acute housing shortages, and the Government’s hands-off approach has seen housing accords signed but not a single new house built in the special housing areas a year after they were announced.

“Meanwhile loan to value ratio lending restrictions (LVRs) and interest rates heading north of 8% – both introduced by the Reserve Bank to deal with the problems in Auckland and Canterbury – are chilling the housing markets of regional New Zealand.

“The Government seems oblivious to the situation facing homeowners in places where the value of houses has taken a massive hit since 2008, places like Southland and the Far North. People have spent a lifetime paying off the mortgage, and now their biggest asset is wasting away as they face retirement.

“It is more urgent than ever that Government intervenes decisively in the failed Auckland and Canterbury housing markets. The current approach of tweaking the planning rules and hoping a broken market will fix itself has failed completely.

“Labour will build 10,000 affordable starter homes every year for ten years, tax speculators with a Capital Gains Tax that excludes the family home, and reform monetary policy to bring down interest rates. Bold action to fix Auckland and Canterbury will remove the need for the LVRs and increased interest rates that are hurting the regions.”

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Parliament Kicks Off: Carter Re-Elected Speaker

The 51st Parliament held its commission opening today with MPs sworn in and David Carter elected Speaker.

The day began at 11am with the three Royal Commissioners – the Chief Justice, the Court of Appeal President, and the Chief High Court Judge – declaring the new Parliament open.

After the Commissioners left the Chamber the swearing in of MPs took place in alphabetical order. Unlike some previous openings all MPs managed to swear on the bible or affirm their oath without any hiccups... More>>

 

Labour: Review Team Named, Leadership Campaign Starts

Labour’s New Zealand Council has appointed Bryan Gould as Convenor of its post-General Election Review. He will be joined on the Review Team by Hon Margaret Wilson, Stacey Morrison and Brian Corban.

ALSO:


Roy Morgan Poll: National Slips, Labour Hits Lows

The first New Zealand Roy Morgan Poll since the NZ Election shows National 43.5% (down 3.54% since the September 20 Election). This isn’t unusual, National support has dropped after each of John Key’s Election victories... However, support for the main opposition Labour Party has crashed to 22.5% (down 2.63% and the lowest support for Labour since the 1914 NZ Election as United Labour). More>>

ALSO:

In On First Round: New Zealand Wins Security Council Seat

Prime Minister John Key has welcomed New Zealand securing a place on the United Nations Security Council for the 2015-16 term. More>>

ALSO:

TPP Leak: Intellectual Property Text Confirms Risk - Jane Kelsey

The US is continuing its assault on generic medicines through numerous proposed changes to patent laws. ‘These are bound to impact on Pharmac if they are accepted’, according to Professor Kelsey... Copyright is another area of ongoing sensitivity... More>>

ALSO:

RMA: Smith Plans Reform To Ease Urban Development

Newly appointed Environment Minister Nick Smith has announced Resource Management Act reform to foster urban development, where high land prices and expensive resource consents are blocking efforts to provide affordable housing. More>>>

ALSO:

Gordon Campbell: On New Zealand getting involved (again) in other people's wars

Apparently, the Key government is still pondering how New Zealand will contribute to the fight against Islamic State. Long may it ponder, given the lack of consensus among our allies as to how to fight IS, where to fight it (Syria, Iraq, or both?) and with whose ground troops, pray tell? More>>

ALSO:

Gordon Campbell: On child poverty, and David Shearer’s latest outburst

The politicisation of (a) the public service and (b) the operations of the Official Information Act have been highlighted by the policy advice package on child poverty that RNZ’s resolute political editor Brent Edwards has finally prised out of the Ministry of Social Development. More>>

ALSO:

Gordon Campbell: On the government’s review of security laws

So the Key government is about to launch a four week review of the ability of our existing legislation to deal with “suspected and returning foreign terrorist fighters, and other violent extremists.”

According to its terms of reference, the review will consider whether the SIS, GCSB and Police are sufficiently able right now to (a) investigate and monitor suspected and returning foreign terrorist fighters… More>>

ALSO:

Labour Davids: Lisa Owen Interviews David Shearer

David Shearer still mulling whether to stand for Labour leadership but says his family doesn’t think it’s a good idea. Declares that it will be “incredibly divisive” for the Labour caucus if David Cunliffe returns to the role of leader. More>>

ALSO:

Taser Use & False Evidence: Timaru Officers "Failed To Follow Good Policing Practice"

The Authority found that even if Mr Reuben’s contact with the officer was deliberate it amounted to only a minor assault. While it found the use of the OC spray was justified, the use of the Taser was not a proportionate response... More>>

ALSO:

Little Surprise: Andrew Little To Contest Labour Leadership

I have decided to contest the Labour Party leadership. There are three immediate issues to deal with: creating greater cohesion across the caucus, rebuilding the relationship between caucus and the Party and, most importantly getting the process under way to listen to the voters who have abandoned us... More>>

ALSO:

Two Fewer Votes In Recount: "Positive Result" - Harawira

When I applied for a recount of the votes from the Tai Tokerau election, I made it clear that this application was not aimed at overturning the election result, but ensuring that all votes cast by Maori were treated with due respect, regardless of whether those votes are for Labour, Maori Party or MANA. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news