Housing unaffordability hits new high

New analysis showing median house prices in Auckland are now 9.22 times the median annual household income confirms that the National Government has failed to fix the Auckland housing crisis, the Green Party said.

Figures compiled by the parliamentary library using REINZ March house price data and the most recent income data available from Statistics NZ, show a median house price/income ratio in Auckland of 9.22, up from 8.45 last month. Internationally, a ratio of 3 is considered affordable.

“When houses cost more than 9 times peoples’ annual household incomes, it’s clear that Kiwi families are being shut out of home ownership in Auckland,” Green Party Co-leader Metiria Turei said.

“After seven years in power National has not done enough to help Auckland’s families afford a home and now it’s time for it to get hands-on and build some new, affordable homes.

“Buzzwords like SHAs, LVRs, and bright line tests mean nothing to people sitting at the kitchen table trying to match their incomes up with what they need to save to buy a home.

“It’s a year since the Reserve Bank called for action on the housing crisis but National’s small actions clearly haven’t made a big difference.

“We need the Government to build a whole lot of new homes, support quality medium-density housing around public transport routes, and introduce strong measures to stop pretty speculation like a proper capital gains tax (excluding the family home) and restrictions on foreign property ownership,” Mrs Turei said.

Action

Join our call to stop funding fossil fuels!

Take Action

Action

Virtual Events

We have activists across Aotearoa / New Zealand who are working hard to build a brighter future for our kids and grandkids. This page lists upcomin...
Take Action

Action

Support our Climate Action Plan for bigger bolder climate action

We agree with all five of the School Strike for Climate's demands. Read more and sign the petition.
Take Action

Action

Show your support to end housing inequality

New Zealand’s housing market is becoming increasingly divided between people who own their own homes and those forced to rent for life...
Take Action

Latest Building and Construction Announcements

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

Story

Greens delivering warm, dry, healthy homes in government

The Green Party is celebrating the launch of the Warmer Kiwi Homes programme today, which will deliver warm, dry, healthy homes for a huge number o...
Read More