Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Housing under National: the Facts

Housing under National: the Facts

1. House prices in Auckland

• Council valuations indicate Auckland house prices have gone up by one-third over the last three years. (Auckland Council)

• The average Auckland house price has gone up by nearly $225,000 since 2008, up over $75,000 in the past 12 months. (QV)

• It now takes 50 years to pay off the average house in Auckland. (NZIER)

2. The residential rebuild in Canterbury

• Only 2,000 houses have been rebuilt in Christchurch when the earthquakes destroyed 11,000 and CERA says 31,000 more are needed in the Canterbury region by 2021. (Christchurch City Council)

• Rents are up nearly 45% and house prices up nearly 30% since the first earthquake. (MBIE & QV)

• MBIE estimates there are up to 7400 people homeless in Canterbury.

• Only 62 of the 700 new state houses Nick Smith promised have been built.

3. The regions have been affected by LVR 20% minimum deposits and rising mortgage interest rates

• 100% of house price inflation is happening in Auckland and Canterbury but LVRs have driven out first home buyers in the regions, and homeowners have been hit by rising interest rates. (REINZ)

• House prices in the regions are either flat lining or falling. Since 2008 house values in real terms have fallen 19% in Southland, 26% in Far North, and 37% in Kawerau. (QV)

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

4. The Auckland Housing Accord

• Not a single new house has been built in the Special Housing Areas that anyone is living in, 15 months after the Accord was announced.

• Nowhere does the Housing Accord actually ensure that additional new dwellings will be built. It merely accelerates the supply of new dwellings that developers were already going to build anyway.

• Four developers recently pulled out of the Special Housing Areas, and one commentator says some developers signed up purely to get capital gain and had no intention of building. (Manukau Courier)

• The accord is running behind target. In the first six months only 3,416 dwellings were consented when the Minister promised to build 9,000 in the first year and Auckland needs 13,000 a year to meet demand and make up for the recent shortfall in building. (MBIE)

5. Property speculation is driving prices higher in Auckland

• OECD data on the Auckland market suggests speculators are having a major effect. (NZIER)

• Westpac says Labour’s Capital Gains Tax would reduce the value of a rental property compared to other investments by 23%.

6. National says it’s policy aims to increase supply of new housing but more houses were built every year under the last Labour Government than National were able to build in their first five years in office.

7. State housing

• Labour increased the state housing stock by 9000 when last in government: National have reduced the number of state houses by 1000 in the last 12 months alone.

• There are 2700 vacant state houses, and the waiting lists are at a record high at 5800.

• National has used Housing NZ as a cash cow in the middle of the housing crisis: making a net withdrawal of $212 m (2009-2013) and are budgeting to withdraw another $252 m over the next 3 years.

8. The Government denies there is a housing crisis.

• The OECD says we have the 2nd most unaffordable housing in the western world.

• The IMF says house price to income ratios are 30% out of step with historic averages and house price to rent ratios 80%.

• The Reserve Bank says the overheated housing market is a threat to macro-economic stability.

ENDS

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On The Perils Of Joining AUKUS Pillar Two


The lure for New Zealand to join the AUKUS military alliance is that membership of only its “second pillar” will still (supposedly) give us access to state of the art military technologies. As top US official Kurt Campbell said during his visit to Wellington a year ago:
...We've been gratified by how many countries want to join with us to work with cutting-edge technologies like in the cyber arena, hypersonics, you can go down a long list and it's great to hear that New Zealand is interested...
More


 
 


ACT: New Zealand Dodges Dopey Experiment In Prohibition

“Labour’s attempted crackdown on smokers would have delivered criminal groups a near-monopoly over the cigarette trade,” says ACT Health spokesman Todd Stephenson... More


Government: Backs Police To Crackdown On Gangs
The coalition Government is restoring law and order by providing police new tools to crack down on criminal gangs, says Justice Minister Paul Goldsmith and Police Minister Mark Mitchell. “Over the last five years gangs have recruited more than 3000 members, a 51 per cent increase... More


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.