John Key’s hands-off housing ideas failing Aucklanders

Research released this morning shows the massive scale of the housing supply problem in Auckland, and the urgent need for the Government to intervene so that Aucklanders can have a chance to own their own homes, the Green Party said today.

“John Key’s hand’s-off approach to fixing the housing crisis is failing Aucklanders,” said Green Party Co-leader Metiria Turei.

“Auckland house prices are already out of reach of everyday Kiwis, and these dismal supply figures show that the problem’s only going to get worse.

“A housing shortage of 15,000 in a growing city like Auckland isn’t good enough; nor is the 24,500 shortfall projected for 2018.

“The Government could be showing real vision and leadership by undertaking a large-scale home-building programme in Auckland, using its access to low-risk, low-interest finance.

“They could then sell those houses back to Aucklanders through progressive ownership programmes.

“The Government could also be doing more to address the demand side of the issue – a full capital gains tax and a ban on non-resident foreign investors would be good steps to dampening speculation and protecting first-home buyers.

“Instead, John Key and the National Party are determined to leave Auckland’s future in the hands of the market.

“Clearly, at the moment the market is working against Aucklanders – and so is this do-nothing Government,” said Mrs Turei.