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

 


Housing under National: the Facts

Housing under National: the Facts

1. House prices in Auckland

• Council valuations indicate Auckland house prices have gone up by one-third over the last three years. (Auckland Council)

• The average Auckland house price has gone up by nearly $225,000 since 2008, up over $75,000 in the past 12 months. (QV)

• It now takes 50 years to pay off the average house in Auckland. (NZIER)

2. The residential rebuild in Canterbury

• Only 2,000 houses have been rebuilt in Christchurch when the earthquakes destroyed 11,000 and CERA says 31,000 more are needed in the Canterbury region by 2021. (Christchurch City Council)

• Rents are up nearly 45% and house prices up nearly 30% since the first earthquake. (MBIE & QV)

• MBIE estimates there are up to 7400 people homeless in Canterbury.

• Only 62 of the 700 new state houses Nick Smith promised have been built.

3. The regions have been affected by LVR 20% minimum deposits and rising mortgage interest rates

• 100% of house price inflation is happening in Auckland and Canterbury but LVRs have driven out first home buyers in the regions, and homeowners have been hit by rising interest rates. (REINZ)

• House prices in the regions are either flat lining or falling. Since 2008 house values in real terms have fallen 19% in Southland, 26% in Far North, and 37% in Kawerau. (QV)

4. The Auckland Housing Accord

• Not a single new house has been built in the Special Housing Areas that anyone is living in, 15 months after the Accord was announced.

• Nowhere does the Housing Accord actually ensure that additional new dwellings will be built. It merely accelerates the supply of new dwellings that developers were already going to build anyway.

• Four developers recently pulled out of the Special Housing Areas, and one commentator says some developers signed up purely to get capital gain and had no intention of building. (Manukau Courier)

• The accord is running behind target. In the first six months only 3,416 dwellings were consented when the Minister promised to build 9,000 in the first year and Auckland needs 13,000 a year to meet demand and make up for the recent shortfall in building. (MBIE)

5. Property speculation is driving prices higher in Auckland

• OECD data on the Auckland market suggests speculators are having a major effect. (NZIER)

• Westpac says Labour’s Capital Gains Tax would reduce the value of a rental property compared to other investments by 23%.

6. National says it’s policy aims to increase supply of new housing but more houses were built every year under the last Labour Government than National were able to build in their first five years in office.

7. State housing

• Labour increased the state housing stock by 9000 when last in government: National have reduced the number of state houses by 1000 in the last 12 months alone.

• There are 2700 vacant state houses, and the waiting lists are at a record high at 5800.

• National has used Housing NZ as a cash cow in the middle of the housing crisis: making a net withdrawal of $212 m (2009-2013) and are budgeting to withdraw another $252 m over the next 3 years.

8. The Government denies there is a housing crisis.

• The OECD says we have the 2nd most unaffordable housing in the western world.

• The IMF says house price to income ratios are 30% out of step with historic averages and house price to rent ratios 80%.

• The Reserve Bank says the overheated housing market is a threat to macro-economic stability.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Protests Close Roads: TPP Signed In Auckland

“TPP was signed by Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Viet Nam.” More>>

ALSO:

Emails Behind 'Diplomatic Immunity' Case: Whitehead Report Released

“As previously indicated the conclusions reached by Mr Whitehead’s investigation are not unexpected but they are very disappointing,” Mr Mccully says. “At the heart of the matter is a single email, along with procedural shortcomings, which gave Malaysian officials the impression it would be acceptable for Mr Rizalman to return to Malaysia." More>>

ALSO:

Gordon Campbell: On The Treaty/TPP Overlap, And Iowa

The fears about the ISDS provisions in the Trans Pacific Partnership deal are well-founded. The reality is that there is a sharp uptick in the occurrence of ISDS litigation in developed countries, and even the right wing likes of The Economist have been souring on the process for some time. More>>

ALSO:

Christchurch Red Zone Offers: Fresh High Court Proceedings

Grant Cameron, Solicitor for the Quake Outcasts said “the action seeks judicial review of the Crown’s recent decision to make a fresh offer to purchase properties from uninsured property owners in red zones. More>>

ALSO:

PM's Post-Cabinet Press Conference: Waitangi And TPP

Prime Minister John Key on Tuesday said his office has received an invitation for him to visit the Lower Marae on Waitangi Day, but was waiting for a meeting of the Te Tii Marae Trustees. More>>

ALSO:

Flagged: 'Wrong Colour' Bridge Flag To Change

NZ First: Only 13 days after National trumpeted its legally questionable flag on Auckland Harbour Bridge, it is now coming down because it is the wrong colour... “Mr Key’s latest flag fiasco is another waste of taxpayers' money. Given it is coming down, down is exactly the location where it should remain. More>>

ALSO:

School's In: Children Head Back To School

“Across the whole of this year we expect 61,820 five year olds will begin their primary schooling for the first time,” says the Ministry of Education head of sector enablement and support Katrina Casey. More>>

ALSO:

Dog & Lemon: FBI Disagrees With NZ Government Over Police Chases

Multiple studies, quoted by the FBI, show that once suspects realise they're no longer being chased; they tend to slow down to normal driving speeds and therefore become far less of a risk. The FBI report also categorically rejected the argument that abandoning police chases meant ‘giving in’ to offenders. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news