National Government, the property speculator’s best friend

The National Government is still the property speculator’s best friend, Green Party said today.

Mortgage lending data released today by the Reserve Bank shows that residential property investors are borrowing more than three times as much as first home buyers.

“Under the National Government, it’s clearly still much easier to buy a third, fourth, or fifth investment house, rather than your first home to live in,” Green Party Co-leader Metiria Turei said.

“People just trying to get their own home are being left out in the cold because of the National Government’s inaction on our growing housing crisis.

“This National Government has totally lost grip of the housing crisis. They are in denial that it’s happening and they have no solutions.

“We can remove the barriers that are keeping families out of their own homes.

“The Green Party will put in place a properly enforced capital gains tax (excluding the family home) and restrict non-resident foreign investors, to bring some calm to the out of control housing market.

“We need to give families and young people some hope that they can buy a home to call their own,” Mrs Turei said

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