National sides against aspiring homeowners

National's claim the government is lauding its new housing bill as the silver bullet to the housing affordability problem is simply wrong - but it's part of the solution and aspiring homeowners won't be impressed National voted against it, says Housing Minister Maryan Street.

The Affordable Housing: Enabling Territorial Authorities Bill had its first reading today and is designed to stimulate the provision of more affordable housing for first-home buyers and modest-income families in the rental market.

"Rapidly escalating property prices have seen the rate of homeownership fall from 74 per cent to 67 per cent between 1991 and 2006. If the trend continues this rate will fall to about 62 per cent by 2016.

"New Zealanders are worried about the issue and want something done as National leader John Key has himself acknowledged. Yet National voted against the Bill today, with its MPs complaining about how it would affect developers rather than focusing on protecting the long-cherished Kiwi Dream of homeownership, "Maryan Street said.

ENDS

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