Councillors must approve 400,000 homes

Auckland Councillors must approve the proposed Unitary Plan’s goal of allowing 422,000 dwellings in the next 30 years, says ACT Leader David Seymour.

“Solving a housing shortage is simple: let people build houses. The proposed Unitary Plan allows for 422,000 houses over the next 30 years. It’s an ambitious and necessary target.

Auckland Council must step up or step aside

All eyes will be on Auckland Council tomorrow as they respond to the Independent Hearings Panel’s proposed Unitary Plan, says ACT Leader David Seymour.

“Prospective homebuyers have already waited too long for a workable solution to Auckland’s housing shortage," says Mr Seymour.

“We know that homeowners in the centre of the city are not opposed to intensification and in some cases welcome it, but they have specific, and in my view legitimate, concerns over school zones and funding, congestion, and community character.

Reserve Bank action an indictment of Govt

New restrictions on lending announced by the Reserve Bank show how dysfunctional housing supply has become, says ACT Leader David Seymour.

“In a normally functioning market, housing investment would stimulate supply, eventually bringing down prices," says Mr Seymour.  "The Bank is trying to reduce demand because it knows the market isn’t functioning.

“National and opposition parties support the Bank’s intervention, suggesting they’ve given up on responsive housing supply.

Government fails to build houses – and who’s surprised?

Government home-building projects are running up against the same problems as private developments, says ACT Leader David Seymour.

“Housing New Zealand’s failure to build 2000 houses is no surprise. The entire housing shortage is caused by barriers to development. The idea that the Government could simply ignore these barriers and build houses itself was always ridiculous.

Reserve Bank must analyse LVR equity

It is disappointing that yet another Monetary Policy Statement has been released without analysis on the equity of loan-to-value ratios.

"The Governor is now talking about debt-to-income ratios, without asking what loan-to-value ratios have done to young and first home buyers," says ACT Leader David Seymour.

"Young people saving for a deposit took a kick in the guts when loan-to-value ratios kicked in, and now the Governor is blithely speculating that he will introduce debt-to-income ratios.

NPS a victory for ACT ideas

Today’s National Policy Statement (NPS) implements some of ACT’s long-held views on housing.

“While others have attacked foreigners and proposed new taxes and red tape, ACT has always said that housing affordability is fundamentally a land supply issue.

“The NPS would not have focused on the importance of land supply if it weren’t for the influence of the Productivity Commission. The Commission was an ACT initiative announced in 2010.

Finally Labour gets it - land supply is key to housing

It’s great to see Labour supporting ACT’s policy of removing the Auckland urban boundary, says ACT leader David Seymour.

“Artifically restricted land supply has always been the source of housing unaffordability.  But until now the debate has been driven by hysteria over foreigner buyers and speculators.

"Hopefully this is a turning point and all political parties will focus on the real solution - freeing up land and increasing housing supply by removing red tape.

Foreign buyer figures: National must denounce land tax

ACT Leader David Seymour is calling on National to denounce its proposed land tax in the wake of figures showing low numbers of foreign house buyers.

“Confirmation that 97% of property sold in the last three months went to New Zealand tax residents shows that the fuss over foreign buyers has been pure political scapegoating.

“It was bad enough when it was the opposition blaming house prices on foreigners. National should never have sunk to that level with its proposed land tax on foreigners.

Housing costs even worse than we thought

“Yesterday in question time I sought to draw attention to how much worse housing costs are than university costs for young Kiwis.  But after checking the latest data, it’s even worse than I thought,” says ACT Leader David Seymour.

“The average student loan balance for tertiary leavers is about $14,000.  The price of housing over the last three years (the typical university study period) has increased by $78,000.  So costs incurred by house price inflation are exceeding that of student debt by 5.6 times.

Baby boomer government lets down a generation

The 12th Annual Demographia International Housing Affordability Survey is a reminder of how little resolve the Government has applied to fixing a dysfunctional housing market.

“Watching the Annual Demographia updates is a reminder that a Cabinet of baby boomers has done nothing effectual on housing affordability," said ACT Leader David Seymour.

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