Housing speculators’ paradise continues

A capital gains tax on property speculators is urgently needed to rebalance the housing market, as the median nationwide house price rose to over half a million dollars today, the Green Party said.

“New Zealand under National has become a housing speculator’s paradise, and normal working families are paying the price,” said Green Party Co-leader James Shaw.

“A capital gains tax (excluding the family home) has to be at the centre of any plan to fix the housing crisis. It’s not a silver bullet but it’s a vital part of the solution.

“What was once an Auckland issue is now truly nationwide, with eight of New Zealand’s 12 regions hitting record median house prices in March.

“Action to tackle speculative demand is missing from National’s housing policies, but it’s important to address both supply and demand, particularly because the Government’s lacklustre efforts to increase housing supply aren’t working fast enough.

“The time for half measures is over. We need a government that’s prepared to take decisive action to fix the housing crisis.

“A capital gains tax would take the wind out of property speculators’ sails, rebalancing the market in favour of people who are actually going to live in the houses they buy.

“Taxing property fairly would also help rebalance our economy and channel investment into productive businesses, which would create jobs,” Mr Shaw said.

Latest Finance Announcements

Story

Green Party supports Budget 2021 which will help those in poverty

The Green Party supports the 2021 Budget which increases income support for New Zealanders living in poverty, and we’ll continue to push for a long...
Read More

Story

Green Party welcomes KiwiSaver fossil fuel and illegal weapons exclusion

The Green Party is welcoming the changes to KiwiSaver implemented today by the Government that require default providers to exclude investments in ...
Read More

Story

Greens welcome protections for Kiwis’ savings

The Green Party is welcoming the Government’s announcement that bank deposits up to $100,000 will be protected under new rules.
Read More

Story

Housing plan a start, but much more needed to meet the scale of the crisis

The Government’s housing announcement is a very small start but it doesn’t go far enough to genuinely meet the scale of the crisis.
Read More

Story

Greens announce 4 point plan to stop runaway housing crisis

The Green Party is calling for bold, transformational measures to stop the accelerating housing crisis that is locking New Zealanders out of a stab...
Read More

Story

Tax data exposes gross inequity between the wealthiest and poorest New Zealanders

Government data today shows that the wealthiest New Zealanders aren’t paying their fair share of tax, whilst everyone else chips in, Green Party sp...
Read More

Latest Building and Construction Announcements

Sustainable buildings and warm dry homes

Everyone has the right to a warm, dry home. Instead, housing in Aotearoa often makes us sick from damp and cold. In Aotearoa, much of our housing s...
Read More

Story

National would rather save landlords some cash than look after sick kids: Green Party

The National Party is more concerned about the back pocket of property investors than sick kids and the elderly, Green Party Co-leader Marama David...
Read More

Story

Stop charging homeless people for emergency housing

The Green Party is calling for the Government to stop sending homeless people into thousands of dollars of debt with the Ministry of Social Develop...
Read More

Story

Green Party: Building code out of date and won’t ensure warm, dry homes

In response to calls for a compulsory energy rating for buildings the Green Party is renewing calls for the building code to take better account of...
Read More

Story

Green Party calling for bold steps to tackle issues in Salvation Army report

The Green Party agrees with the Salvation Army that bold new steps are needed to stop a worrying trajectory of increased rent rises and homelessnes...
Read More

Story

Dilapidated Pink Flats textbook example of why we need a Warrant of Fitness

Families living in dilapidated conditions in a boarding house in Whanganui further demonstrates why a Warrant of Fitness for housing is required, G...
Read More