New home finance problems in Auckland as affordability crisis spreads nationwide

House prices keep rising across New Zealand and banks are unable or unwilling to fund new affordable homes in Auckland, the Green Party said today.

“The big Australian-owned banks are pulling back on lending to the very types of projects that can provide the most affordable homes in our cities,” Green Party Co-leader Metiria Turei said.

“The market can’t and won’t solve the housing crisis by itself – that’s why New Zealanders need the Government to step up and build and help finance more affordable housing.

“Building apartments and townhouses along major public transport routes is the most affordable and effective way to create lots of new homes in our cities. If the banks won’t fund these projects, the Government needs to look for other ways to make sure finance is available, including working with the community housing sector.

“The scale of the housing crisis is so bad that yet again, New Zealand has made international headlines as the most unaffordable place to buy a home in all four of The Economist’s house price indexes.

“National has let the Auckland housing crisis spread throughout the country.

“The latest house price data published today shows the median house price continues to rise in Auckland and it’s rising faster in many other regions, year on year.

“With a nationwide median price of almost half a million dollars, families who work hard to save for their first home are finding it harder and harder to afford one.

“There’s lots more the Government could choose to do to fix the housing market, including rent-to-buy programmes, working with the community housing sector, cutting down on property speculation with a capital gains tax (excluding the family home), and restricting overseas investors,” Mrs Turei said.

Latest Housing Announcements

Story

Budget 2022: Greens celebrate landmark investment in climate action

Landmark week for climate action concludes with climate budget Largest ever investment in climate action one of many Green Party wins throughout B...
Read More

Story

Budget 2022: Greens welcome support to address youth homelessness

Budget 2022 support to reduce homelessness delivers on the Green Party’s cooperation agreement Bespoke support for rangatahi with higher, more com...
Read More

Story

HRC housing inquiry confirms need for rental WOF

The Human Rights Commission inquiry into housing quality confirms what the Green Party has been calling for - a rental Warrant of Fitness and a reg...
Read More

Story

Greens write to PM to call for rent controls

The Green Party has published an open letter to the Prime Minister calling for an immediate rent freeze and for that to remain in place until rent ...
Read More

Action

Sign the open letter asking the Prime Minister to make rents reasonable

Add your name to our open letter to the Prime Minister. We’re calling for the Government to keep rents reasonable, by introducing an immediate rent...

Story

Questions to Govt reveal urgent need for rental WOF and register

The Green Party is renewing its calls for a Warrant of Fitness for rental homes and a register of landlords and property managers after revelations...
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