Reviving The Kiwi Dream Of Home Ownership
National will help New Zealanders secure their financial future by delivering policies that will allow more renters and social housing tenants to get a foot on the property ladder.
“Home ownership is an important part of our social fabric. It helps give people financial security, helps families build roots in their communities and gives parents a valuable asset to pass on to their children,” National Leader Judith Collins says.
“Sadly, the dream of home ownership has slipped further away under the Labour-led Government, which is turning New Zealand into a nation of renters. National will fix this.”
National’s housing policy includes:
· Passing emergency legislation within 100 days to amend the Resource Management Act (RMA) and require councils to permit more housing
· Repealing the RMA in our first term and replacing it with new legislation that allows more houses to be built at a faster pace
· Allowing social housing tenants to buy their homes through a rent-to-own or shared equity scheme
· Empowering Community Housing Providers to build more social houses by setting aside $1 billion from Kāinga Ora’s borrowing facility for them to access
New Zealand currently has some of the most expensive housing in the world, increasingly putting home ownership out of reach of many. There is now consensus across politicians and experts that New Zealand’s planning rules are primarily to blame.
Ms Collins says the long-term solution to getting more houses built is repealing the RMA, replacing it with an Environmental Standards Act and a Planning and Development Act.
“These will deliver clarity and speed rather than the present murkiness, expense and delay.”
But Housing spokesperson Jacqui Dean says a more immediate solution is also needed for the housing emergency we have in front of us now.
To address this National will pass emergency legislation within 100 days, similar to that used for the Christchurch rebuild. This will require all councils to immediately open up 30 years of growth for urban development and establish a fast-tracked consenting process.
“This approach will improve housing affordability. It will mean your children will have the same opportunity you had to purchase their own home to raise their own families.”
National will also fix New Zealand’s broken rental market by simplifying Labour’s unwieldly rental regulations so that it is easier for landlords to comply, Ms Dean says
“This will stop good landlords from fleeing the market due to cost, bringing down the cost of rents and ensuring there are enough rental properties on the market to meet demand.”
Social Housing spokesperson Simon O’Connor says National will allow social housing tenants with good track-records to buy their homes through a shared equity scheme.
“National is committed to supporting our most vulnerable New Zealanders and helping them lead better, more independent lives.”
Labour promised to bring house prices down by building 100,000 KiwiBuild houses, claiming the market had failed. But three years on, Labour has built less than 600 KiwiBuild houses, while the median house price has risen 27 per cent and rental costs are up 15 per cent.
The social housing waiting list has also exploded on Labour’s watch from 5844 at the last election to nearly 20,000 today.
Labour has utterly failed to deliver on housing, Ms Collins says.
“National is the party of home ownership. We have a clear plan to undo the housing damage done by Labour and get more New Zealanders into their own home.”
National’s housing policy has been costed at $480 million over five years.