Labour’s housing policies have failed and Kiwis are paying the price with soaring housing costs and a new threat of retrograde price controls, National’s Housing spokesperson Nicola Willis says.
In an increasingly desperate game of policy whack-a-mole, Associate Housing Minister Poto Williams yesterday said rent controls are under active consideration.
National knows New Zealand’s housing emergency won’t be solved by blaming landlords, adding taxes and introducing draconian price controls.
Fresh from the colossal KiwiBuild failure, and with house prices going through the roof, last year the Government introduced new housing taxes promising they would “tilt the balance towards first home buyers” and “give Kiwis a better chance at purchasing their first family home”.
Officials warned that the combination of removing interest deductibility for landlords and extending the bright-line test would likely put pressure on rental costs, increase churn for renters and add to the number of people in need of state and emergency housing.
The Government ploughed ahead anyway and now Kiwis are paying the price with increased housing costs across the board.
- Median rents have risen to $525 per week (up $125 under Labour)
- Emergency housing costs have reached $1.2m a day (up $1.1m under Labour)
- The state housing wait list has reached 25,525 people (up by 19,705 people under Labour)
- Average house prices have hit record highs of $1,053,315 (up $384,778 under Labour)
National continues to propose constructive policies for getting housing costs under control, including:
- Reducing the land, building and compliance costs that drive up the cost of new housing
- Increasing long-term rental options with our Build-to-Rent Housing Bill that would unlock investment in purpose-built rental properties
- Boosting social and affordable housing by backing community housing providers
- Ensuring everyday Kiwis can get mortgages, by fixing the Consumer Credit Contracts and Consumer Finance Act which has cut access to bank lending; and
- Assisting first-home buyers onto the housing ladder with Help-to-Own schemes
National is determined that New Zealand can once again be a place where hardworking, aspirational, everyday people can see a path to home ownership. Where Labour has failed, National will deliver.
