National letting speculators control housing market

Action is needed to rebalance the housing market in favour of families who need somewhere to live, the Green Party said today.

New data from Core Logic shows that property investors who already own multiple properties are buying the largest share of homes in Auckland.

“We need action to rebalance the housing market so that it’s serving people who need somewhere to live, not speculators looking to cash in on the housing crisis,” said Green Party Co-leader Metiria Turei.

“The Government seems to have abandoned responsibility for housing and let speculators from here and overseas get a free ride with no proper capital gains tax, and loopholes like negative gearing and the combined collateral exemption for loan to value ratios.

“Loan to value ratios don’t work to stop property speculators when they can just pool their equity in other properties to get around the rules.

“Under National, home ownership has dropped to the lowest level in 65 years, while the number of property speculators who own three or more homes has risen to over 50 percent.

“The National Government has chosen not to use the tools available to fix the housing market, and that’s costing people a decent place to live.

“Platitudes from John Key and Nick Smith are no comfort to families constantly outbid by property speculators,” said Mrs Turei.

Latest Auckland Issues Announcements

Story

Greens would bring urban food farms to Auckland City

The Green Party will invest funding in community agriculture and urban food gardens in places like Auckland city centre.
Read More

Auckland’s Transport Future

As our biggest city, with well-known transport issues, it’s crucial we act now and ensure people living in Auckland can get where they need to; no ...
FIND OUT MORE

Story

Green Party: Auckland Council’s proposed COVID budget cuts are regressive and dangerous for the climate

The Green Party says Auckland Council’s proposed COVID budget cuts are regressive and dangerous for the climate.
Read More

Story

Eels a sign of the health of our creeks

Central government needs to resource local councils to protect our waterways, Green Party Water spokesperson Marama Davidson said today, following ...
Read More

Story

Auckland transport plan a huge win for commuters, buses, trains and bikes

The Green Party is heralding today’s transport announcement in Auckland as a game changer that will deliver on some of the core commitments of the ...
Read More

Story

Collins must release new report on pipeline vulnerability

Judith Collins should release a new report, that had been due to come out this week, showing what the Government knew about the vulnerability of th...
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