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No relief from house price rises under National

Labour Leader
No relief from house price rises under National
Labour will not sit by and watch the relentless rise in house prices push home ownership ever further out of the reach of young New Zealanders, Labour Leader David Shearer says.

The latest Quotable Value data shows that house prices have risen by 8.1 per cent in the last year, and 3.1 per cent in just the last three months. In Auckland the rate of increase has been even higher, at 12.8 over the last 12 months and 4.1 per cent in the last three months.

“Prices in Auckland are just crazy. How can first home buyers be expected to save a deposit and get in to the market when prices are constantly skyrocketing?

“The time has come for the government to get off the side-lines, and get serious about housing affordability. Labour has a comprehensive package of policies to tackle rising house prices, and give first home buyers a fair crack.

“The next Labour government will oversee the construction of 100,000 affordable homes over ten years and sell them to first time buyers.

“We’ll reduce demand by taxing property speculators. And we will prevent off-shore speculators from buying existing residential properties to help take some of the heat out of the market.

“I make no apology for backing first home buyers over property speculators. I want to restore the dream of home ownership for the tens-of-thousands of young Kiwis who currently can’t imagine being able to afford to buy their own place,” says David Shearer.


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