Responsible house price reduction needed to avoid bubble bursting

Auckland housing is unaffordable and a responsible Government would have a sensible plan to reduce house prices over time, while protecting families with mortgages, the Green Party said today.

“The simple fact is that housing in Auckland is totally unaffordable and if we don’t take action to bring house prices down, we will have a whole generation of people locked out of ever owning their own home,” said Green Party Co-leader Metiria Turei.

“In around 10 to 15 years’ time, we’d like to see families on the median household income buying their first home for about three to four times that income – not 10 times like it costs now.

“I want to be very clear that we are talking about a responsible, carefully managed reduction in house prices over a period of time like 10 to 15 years.

“The Green Party is putting together a plan for how to reduce house prices responsibly and gradually, and that will include making sure people who’ve recently taken out big mortgages to buy a home are safe and secure.

“We know housing isn’t affordable for families now, so the only way to protect people from market instability is to lay out a plan using every tool we’ve got to slowly bring down house prices to a reasonable level.

“Nobody, including the Green Party, wants to see the housing market crash and equally nobody thinks the current situation can go on like this.

“It’s a fundamental part of Kiwi values that people who work hard should be able to afford their own home.

“Our plan for more affordable housing will include building more houses, a capital gains tax (excluding the family home), and restricting non-resident foreign buyers,” Mrs Turei said.

Latest Finance Announcements

Story

No surprise in National’s latest attempt to slash public services

National’s ‘alternative budget’ that includes huge cuts to the government’s operating allowance would risk gutting critical public services, and pu...
Read More

Policy

Economic Policy

Click here for our 2020 Election Progressive Tax Reform Policy A Green economy is about better quality of life for people and the planet. Economic...
See More

Policy

Trade and Foreign Investment Policy

Click here for our 2020 Election Priorities for International Trade We support fair trade that’s good for economic prosperity, people, and the pla...
See More

Story

Green Budget win backs public sector leadership on climate change

The Greens in Government have today won a significant investment to help move the public sector estate onto clean, renewable energy, Green Party Co...
Read More

Story

Budget 2019 Speech - James Shaw

E te Māngai o te Whare, tēnā koe. Ki a koutou ōku hoa Pāremata, huri noa i te Whare, ngā mihi o te tau hou ki a koutou katoa. 1.         The Wellbe...
Read More

Story

Green Party welcomes first Wellbeing Budget

“The Green Party is proud to welcome New Zealand’s first Wellbeing Budget to deliver change for New Zealanders,” Green Party Co-leader James Shaw s...
Read More

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