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


First home buyers $200 a week better off with Labour

First home buyers $200 a week better off with Labour

A couple earning around $75,000 a year would be $200 a week better off buying a two bedroom terraced Labour KiwiBuild home instead of an equivalent new build under National’s housing policy, says Labour Leader David Cunliffe.

“National’s policy to give grants to first home buyers to buy new build homes does nothing to address supply and rein in runaway house prices. In fact it will likely push prices higher.

“In contrast, Labour’s KiwiBuild policy will build 100,000 new affordable homes over ten years and sell them at cost to first home buyers. Using the purchasing power of the Government and off-site building techniques we will be able to lower the cost of building a home.

“This will enable Labour to sell a new two-bedroom terraced KiwiBuild home for around $360,000 in parts of Auckland. That compares to around $485,000 for a similar Hobsonville home.

“This will mean a couple earning $75,000 a year – similar to National’s test couple earning $80,000 a year – with a saved deposit of $20,000 plus KiwiSaver will have mortgage repayments of $777 a week under National’s plan and $577 a week under Labour.

“A $200 a week difference in mortgage repayments is huge. It is the difference between realising the dream of home ownership and facing the prospect of years of renting.

“That’s what Labour’s home ownership policy we are releasing today is all about.

“Labour’s policy will help 50,000 families over five years buy a first home. National’s will only give a slightly higher deposit to 40,000 families.

“Only under Labour can young families turn their dream of home ownership into reality, with National it remains a pipe dream,” said David Cunliffe.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Key In NY: Prime Minister Addresses United Nations

Prime Minister John Key has addressed the United Nations General Assembly in New York, focusing on a call for action in Syria and on other conflicts, reform of the veto process and on the UN’s Sustainable Development Goals. More>>.


Gordon Campbell: On The Lack Of Accountability Over Philip Smith

In New Zealand, accountability is an exotic creature rarely glimpsed at ministerial level, or among senior management. The flight to Rio by the paedophile /murderer Philip John Smith/Traynor is no exception. More>>


More On Corrections

Gordon Campbell: On Putin’s Diplomatic Coup Over Syria

There’s a simple historical precedent for what is occurring in Syria. During WWII, the Allies joined forces with a known butcher and tyrant – Joseph Stalin of the Soviet Union – in order to defeat a greater evil, Nazi Germany… More>>


Key 'Didn't Know': Brownlee Seeks Pandas In China

While Defence Minister Gerry Brownlee is in China pushing a taxpayer funded deal to bring two pandas to New Zealand, the country’s military look set to be hit with a pay freeze, Opposition Leader Andrew Little says. More>>


Scoop Business: GCSB Willing To Extend Cyber-Attack Programme To Local ISPs

The Government Communications Security Bureau’s ‘Cortex’ cyber-security programme has been successful in helping identify and mitigate a series of cyber attacks since its introduction and an extension to cover local internet service providers is still on the cards... More>>


Gordon Campbell: On The Chris Brown Furore

Thank goodness Dame Tariana Turia has been able to inject a bit of common sense into the Chris Brown visa issue – her argument being that forgiveness has a place in this decision, and there is an opportunity here that should be taken... More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news