Parliament

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

 

New home finance problems in Auckland

13 March 2017

New home finance problems in Auckland as affordability crisis spreads nationwide

House prices keep rising across New Zealand and banks are unable or unwilling to fund new affordable homes in Auckland, the Green Party said today.

“The big Australian-owned banks are pulling back on lending to the very types of projects that can provide the most affordable homes in our cities,” Green Party Co-leader Metiria Turei said.

“The market can’t and won’t solve the housing crisis by itself – that’s why New Zealanders need the Government to step up and build and help finance more affordable housing.

“Building apartments and townhouses along major public transport routes is the most affordable and effective way to create lots of new homes in our cities. If the banks won’t fund these projects, the Government needs to look for other ways to make sure finance is available, including working with the community housing sector.

“The scale of the housing crisis is so bad that yet again, New Zealand has made international headlines as the most unaffordable place to buy a home in all four of The Economist’s house price indexes.

“National has let the Auckland housing crisis spread throughout the country.

“The latest house price data published today shows the median house price continues to rise in Auckland and it’s rising faster in many other regions, year on year.

“With a nationwide median price of almost half a million dollars, families who work hard to save for their first home are finding it harder and harder to afford one.

“There’s lots more the Government could choose to do to fix the housing market, including rent-to-buy programmes, working with the community housing sector, cutting down on property speculation with a capital gains tax (excluding the family home), and restricting overseas investors,” Mrs Turei said.


ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Ch-Ch-Changes At IRD

job cuts aren’t happening at the IRD, exactly. Instead, there’s apparently a ‘transformation’ in store, and jobs won’t be axed ; no, they will be ‘transformed’ before our eyes into… non-jobs, if you happen to be among the unlucky legion of 1,900 who are being lined up for transformation, which seems to work rather like a secular version of the Rapture.

Except that at IRD, not even your shoes will be left behind. More>>

 

Christchurch Mental Health: Hospital Too 'Awful' For Reviewers To Visit

Jonathan Coleman has to stop the stalling over a new building for mental health services in Christchurch to replace the quake damaged Princess Margaret Hospital, says Labour’s Health spokesperson David Clark... More>>

ALSO:

Greens Call For Govt Action: Children Sick Because Of NZ Housing

The Royal Australasian College of Physicians president-elect said today that children with preventable respiratory illnesses are being re-admitted to hospital because they're being sent back to cold, damp homes. More>>

ALSO:

Less Tax Cut, More Spending: Labour Launches Fiscal Plan

“Labour will invest $8 billion more in health, $4 billion more in education and $5 billion more for Kiwi families through Working for Families, Best Start and the Winter Energy Payment than the Budget 2017 projections for the forecast period.” More>>

ALSO:

Gordon Campbell: On The Greens’ Room For Political Pragmatism

The Greens here are currently being criticized by the commentariat for not making the same kind of pragmatic choices that sunk the Democrats in Australia. More>>

Gordon Campbell: On Being Humane About Welfare, Child Support, And Tax

It made for an unusual Venn diagram, but Greens co-leader Metiria Turei and Finance Minister Steven Joyce were briefly sharing some common elements this week in the set that says – hey, don’t use the powers of the state in ways guaranteed to make the system you’re trying to defend worse, not better. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election