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

 


Affordable Housing a couple of decades away.


Housing Minister Nick Smith: Affordable Housing a couple of decades away.

Housing Minister Nick Smith told TVNZ’s Q+A programme today that it will take up to 20 years to address the imbalance between incomes and house prices.

“The target that I've given to my ministry goes back to those long term affordability measures - which is the ratio of incomes to house prices. That’s what really matters. Historically that number's been about four for New Zealand. Currently in Auckland it's seven. I've set that long term objective of getting it back to four. That means incomes are growing faster than house prices and you need that repeatedly over a period of a decade or two to get those ratios down.

“If you look at housing ownership in New Zealand, it's been going backwards every single year since 1987. In other words the decline in home ownership from about 75% in New Zealand back to about 65% has occurred over that period. And if you're looking for some instant magic bullet that the government can wave and change those 20 year trends you're mistaken. It's about doing the hard yards in those important areas I've identified.

Dr Smith also said a capital gains tax would not make any difference to the housing market.

“If we look at that comprehensive independent study that was done by the Productivity Commission, they didn’t raise issues of foreign buyers. It wasn't mentioned in their 200 page report.”

“They did a comprehensive look at this debate around the capital gains tax and they said no it won’t make the difference. So look across the Tasman to Australia. They’ve got restrictions on farm buyers. They’ve got a sort of a capital gains tax of sorts and their house prices have gone up by more than New Zealand in the last 12 months.

“The government's measures that we're taking in those five key areas identified by the Productivity Commission, land supply, materials costs, Council infrastructure costs, productivity and compliance costs – they are the bits. If you are serious about not playing political games, but making changes that will make housing more affordable for our kids and their kids, they are the five things to tackle.”

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On The National Leadership “Contest”

Key’s endorsement of English has turned this “contest” into a race for second place.

This succession was well planned. Lets not forget that English was told by Key in September of his intention to resign, and English was the only member of Cabinet entrusted with that information before it was sprung on everyone else on Monday morning. More>>

Latest: Judith Collins and Jonathan Coleman have withdrawn from the leadership race, leaving Bill English the only candidate to replace John Key as Prime Minister.

 

Education, Marketing, Taxes: Health Groups Call For Actions For Sugary Drinks

The New Zealand Dental Association is launching a new consensus statement on Sugary Drinks endorsed by key health organisations. The actions seek to reduce harm caused by sugary drinks consumption. More>>

ALSO:

More Departures? David Shearer Proposed For UN Peacekeeping Role

Mt Albert MP David Shearer is being proposed for a demanding and exciting role heading the United Nations peacekeeping force in South Sudan, says Labour Leader Andrew Little. More>>

ALSO:

Security Agencies' Reports: GCSB Wants To Give ISPs More Power To Block Threats

The Government Communications Security Bureau wants to give internet service providers more information and power to block cyber threats which are increasing, its director told the intelligence and security select committee yesterday.. More>>

ALSO:

Education: Charter Schools Misleading Pass Rates

Labour: NCEA results for charter schools have been massively overstated... In one case a school reported a 93.3 per cent pass rate when the facts show only 6.7 per cent of leavers achieved NCEA level two. More>>

ALSO:

Rebstock Report Resolution: SSC Apologises To Derek Leask And Nigel Fyfe

Following a complaint by Mr Leask, the Ombudsman found that the State Services Commission acted unreasonably in relation to Mr Leask and identified numerous deficiencies in the investigation process and in the publication of the final report and in the criticisms it contained of Mr Leask... More>>

ALSO:

International Rankings: Student Results 'Show More Resourcing Needed'

NZEI: New Zealand had only held relatively steady in international rankings in some areas because the average achievement for several other OECD countries had lowered the OECD average -- not because our student achievement has improved. More>>

ALSO:

Earlier:

Salvation Army Report: Beyond The Prison Gate Report

A new Salvation Army report says changes must be made to how prisoners re-enter society for New Zealanders to feel safe and secure in their homes and communities. More>>

ALSO:

Surprise Exit: Gordon Campbell On The Key Resignation

The resignation of John Key is one thing. The way that Key and his deputy Bill English have screwed the scrum on the leadership succession vote (due on December 12) is something else again. It remains to be seen whether the party caucus – ie, the ambitious likes of Steven Joyce, Judith Collins, Paula Bennett, and Amy Adams – will simply roll over... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news