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

 


Auckland House Prices Reach New High

Auckland House Prices Reach New High
 
News that the average house sale price in Auckland has topped $700,000, according to Barfoot & Thompson for the month of December 2013 comes as no surprise to Affordable Auckland Leader Stephen Berry. “There has been no change to the conditions which are distorting the housing market; therefore there will be no change in how it behaves. The bubble will continue to expand until increased interest rates in a few years’ time make it pop, again.”
 
Berry says, “The fundamentals which are fuelling to continued increase in house prices are the same ones that that started the new bubble. Regulations instituted by Auckland Council dictating land use and limits on urban expansion are the primary reason for the housing bubble.. Basic economics has not changed since the 2013 elections. When supply is artificially restricted, demand does not reduce and price goes up.”
 
Lending restrictions introduced by the unelected Reserve Bank have clearly had no positive effect on house prices. “They’ve had no effect on speculator participation in the market; rather they’ve simply shut out the vulnerable first home buyer who needs to six figured deposit just to get a mortgage. If anything, the LVR restrictions have worsened the acceleration of price inflation by reducing construction of new homes; another artificial restriction on supply!”
 
Mr. Berry says the solutions to the housing crisis are very simple and can be found in any Year 11 Economics textbook. “Remove the limits on supply! Abolish the urban limit and let property owners decide how their property is developed, not economically illiterate politicians and bureaucrats in the town hall.”
 
Stephen Berry was Affordable Auckland’s candidate for Mayor in the 2013 elections, finishing in third place with 4%. He has already confirmed that he will stand again when Len Brown inevitably resigns.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Patience: Drive Safe

Be patient before passing is the AA's message for drivers this Labour weekend.

"People taking crazy risks to get past other vehicles is one of the most dangerous things on the road,” says AA spokesperson Dylan Thomsen.

“The weather is looking good for the long weekend so the roads will be busy. Unfortunately, that also increases the chances of people getting frustrated and trying a risky passing manoeuvre. When they get past, there will probably be more traffic up ahead anyway so it won’t get people there faster.” More>>

 
 

Parliament Today:

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Gordon Campbell: On Pharmac, Gough Whitlam And Sleater-Kinney

We’re not at the outset of these negotiations. The outset was six years ago, and negotiators were hoping to have some sort of ‘framework’ deal finished in time for the APEC meeting in a few weeks’ time. These ‘extreme’ positions are what we’ve reached near the intended end of the negotiations… More>>

ALSO:

PM Of Many Hats: Questions, No Answers On Whale Oil

Dr RUSSEL NORMAN (Co-Leader – Green) to the Prime Minister: How many times since November 2008 has he spoken with blogger Cameron Slater on the phone and how many times, if any, has he texted him?
Rt Hon JOHN KEY (Prime Minister): None in my capacity as Prime Minister. More>>

ALSO:

Aussie Investigation Dropped: Call On Minister McCully To Pursue The Case Of Balibo Five

West Papua Action is deeply concerned at the lack of any clear outcome from the Australian Federal Police inquiry into the 1975 deaths of the ‘Balibo Five’ including NZ journalist Gary Cunningham. More>>

ALSO:

'Feed The Kids' Bill: Metiria Turei To Lead Fight On Feeding Hungry Children

Green Party Co-leader Metiria Turei is urging all political parties to support the Feed the Kids Bill which she inherited today from Mana leader Hone Harawira. More>>

ALSO:

Parliament Today: State Opening Of Parliament

The House sat at 10.30am on Tuesday before MPs were summoned to hear the Speech from the Throne in the Legislative Council Chamber. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news