Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Extra loans key to 1 million home upgrade

Extra loans key to achieving 1 million home upgrade

The key to hundreds of thousands of home owners taking up $1800 Government grants to insulate and efficiently heat homes will be the extra new loans to help cover the whole cost of the work.

The New Zealand Business Council for Sustainable Development says today's Budget announcement of a four-year target to improve the performance of 180,000 privately owned homes built before 2000 is a significant new policy.

It recognises the scale of the problem.

About 1 million of the country's 1.6 million homes are inadequately insulated. Cold, dampness and mould are making the occupants of 433,000 homes sick, according to the findings of a $300,000 two-year Business Council research project to find answers to the problem.

The housing project research manager, Heather Stonyer, says 59% of owners who say their houses could be warmer and more energy efficient can't afford to fix the problem.

However, 670,000 of them would accept the right package of home performance improvement grants and loans from councils, power companies and banks in the next 10 years. 210,000 would accept a package like this and act in the next two years.

Most also want a performance rating on homes - so when they come to sell or rent a property others can tell it has been upgraded. This can add 5 to 10% to a property's value, according to overseas experience. They also rent faster and for more.

"So the new sources of finance to add to the grants are critical. It's great news that the Government is developing these. We're also working with 30 other organisations to solve the problem, develop the rating system and encourage new finance products," Heather Stonyer says. "Home improvement brings big rewards in jobs, health, energy savings and productivity."

The Government's new policy move is significant because it recognises the scale of the problem New Zealand faces, the huge benefits to be gained by acting on a large scale, and allocates $323.3 million to the scheme over the next four years.

The Business Council's report on how to improve the New Zealand home performance is at http://www.nzbcsd.org.nz/housing/content.asp?id=446

The latest nationwide research on funding options New Zealanders will use is here: http://www.nzbcsd.org.nz/story.asp?StoryID=991

Further polling on the new scheme and options is being launched this evening.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

PM's Press Conference: Pike Re-Entry Agency

At today's post-cabinet press conference Prime Minister Jacinda Ardern was joined by Minister Responsible for Pike River Re-entry Andrew Little to announce plans for the new agency for re-entry of the mine.

The Pike River Recovery Agency, Te Kahui Whakamana Rua Tekau ma Iwa, will be officially established on 31 January 2018 and will work with the Pike River families with the intention of manned entry of the drift before March 2019. More>>


Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>


Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>

Speaking Of Transport: Public Engagement On Wellington Scenarios

“Our work on possible solutions for Wellington’s transport future is ongoing, but has progressed to the stage where we’re ready to share our ideas with the public and seek their feedback to help guide our next steps...” More>>


Parental Leave: National's Time-Sharing Change Fails

National has proposed a change to the Parental Leave and Employment Protection Amendment Bill that would allow both parents to take paid parental leave at the same time, if that is what suits them best. More>>


Train Free Thursday: Workers Strike To Defend Terms Of Employment

"They signed up to these conditions a year ago when they got the contract for Wellington's rail services. Now they're trying to increase profits by squeezing frontline workers." More>>


Seclusion: Ombudsman Emphasises Importance Of Monitoring

Disability Rights Commissioner Paula Tesoriero says that while there have been changes to the Education (Update) Amendment Act 2017 to prohibit the use of seclusion, the report is an important reminder of the importance of regular monitoring of schools. More>>





Featured InfoPages

Opening the Election