National’s greatest failure: a housing market gone mad

After nine years of tinkering, National has left renters without hope, says ACT Leader David Seymour.

“Harcourts mogul Chris Kennedy has revealed house sales are stalling, with a massive 43.5% increase in unsold properties. Yet prices continue to rise. That’s a housing market gone mad.

“In other words, RMA tinkering has failed, loan-to-value ratios have failed, and the ‘bright-line’ test has failed. The scale of these ‘solutions’ is laughable compared to the scale of the problem.

“ACT has praised National for ensuring stability. But they’ve failed to match this stability with strength, making none of the difficult decisions needed to get New Zealand building homes.

“John Key campaigned on fixing the housing crisis in 2008 and yet we’re left with a fundamentally broken housing market. It’s hurting renters, it’s hurting taxpayers, and it’s threatening the stability of our economy.

“With more MPs, ACT will force National to get real about the underlying problem: a chronic housing shortage. We will remove red tape to allow homebuilding on an epic scale and fund the infrastructure to match it.”

ENDS

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