Nats’ housing policy targets 10% of Kiwis

National’s latest tinkering with housing policy will not make any difference to 90 per cent of people looking for a home, and won’t make houses more affordable, says Labour Leader David Shearer.

“Housing affordability is a serious problem that demands serious solutions. I want to see first home buyers able to afford their own house.

“National’s changes to loan thresholds for first home buyers through KiwiSaver only help households earning between $100,000 and $120,000 a year. That’s just 10 per cent of Kiwis.

“In contrast, the 70 per cent of families earning less than $100,000 are about to be hit with mortgage loan limits that could shut them out of the market thanks to the government’s deal with the Reserve Bank.

“The only way to make a real difference to first home buyers is to increase the supply of affordable homes, and reduce demand from property speculators.

“That’s what Labour will do. We will build 100,000 affordable homes over ten years, and clamp down on speculation through a capital gains tax and restrictions on sales to overseas speculators.

“No-one seriously believes National’s tweaking will make houses more affordable.

“John Key is playing catch-up on housing and he has a long way to go. He has overseen sharply increasing house prices, a decline in building consents and National’s flip-flops on funding for Welcome Home Loans.

“Labour has a comprehensive package of policies to help Kiwis get into their first home. I won’t sit by as the dream of home ownership slips ever further out of reach,” says David Shearer.

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