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 Building and Construction Announcements

Story

Let’s build better, warmer, and climate-friendly

The Government must take steps to ensure that the way we build our homes is helping to meet New Zealand’s climate change targets, the Green Party s...
Read More

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

Latest Housing Announcements

Story

Renters suffer as soaring rents feed rising inflation

The soaring price of renting is driving the rise of inflation in this country - with latest figures from Stats NZ showing rents are up 4.8 per cent...
Read More

Story

Government must build more public houses, not find excuses to sell them

The Green Party says the Government must use the review of Kāinga Ora as a platform to build more homes, not an excuse to sell them off. 
Read More

Story

No-cause evictions leave no hope for renters

The Government’s introduction of legislation that would enable landlords to end tenancies with no reason marks a dark day for the 1.4 million peopl...
Read More

Story

A win for Wellington - Greens welcome more housing

The Green Party is welcoming the announcement by the Minister Responsible for RMA Reform Chris Bishop to approve most of the Wellington City Counci...
Read More

Story

Landlord Government once again pushes renters into the cold

The Coalition is trying to axe yet another opportunity to improve rentals by dropping the Residential Property Managers Bill.
Read More

Story

Surprise: Landlord tax cuts don’t trickle down

The Green Party is renewing its call for rent controls following reports of rental prices hitting an all-time high.
Read More