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

Werewolf: John Pilger, And Making War On China

In July, the New Zealand Defence Force is scheduled to join the latest round of Talisman Sabre, a huge training exercise that Australia carries out biennially in conjunction with all four arms of the US military.

Last time around in 2015, New Zealand contributed 650 personnel, 45 vehicles and two of our $NZ771 million dollar fleet of NH90 helicopters to this regional war game.

What’s weird is that Talisman Sabre is actually a rehearsal for an assault on China and its ability to defend itself. More>>

ALSO:

 
 

Urban Planning Report: Momentum Grows To Replace The RMA

A major new report from the Productivity Commission lays the foundation for action on the growing political consensus that the Resource Management Act and associated laws are failing both cities and the natural environment and need a complete rewrite. More>>

ALSO:

Vaping: Quitline Supports Decision To Legalise Nicotine E-Cigarettes

Today Associate Minister of Health, Hon Nicky Wagner has announced that Government are taking the proactive step of legalising nicotine e-cigarettes, a move which Quitline is pleased to hear and support wholeheartedly. More>>

ALSO:

Gordon Campbell: On The Labour/Greens Deal (And The NZDF)

If Labour and the Greens were hoping their Budget Responsibility Rules (BRR) agreement would foster an unlikely alliance then hey… mission accomplished! Because it isn’t every day that Sue Bradford, the CTU and Matthew Hooton speak with one voice, as happened yesterday. More>>

ALSO:

Until After The Election: Extension Of Report-Back Date For Havelock North Inquiry

Attorney-General Christopher Finlayson announced today that the report-back date for the independent Inquiry into Havelock North Drinking-Water has been extended at the request of the Inquiry’s Panel. More>>

ALSO:

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news