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Auckland’s affordable homes plummet 72% under National

Comprehensive new data from CoreLogic has found the number of homes in Auckland valued at under $600,000 has plummeted by 72 per cent since National took office, Leader of the Opposition Andrew Little says.

“This data tracks the changes in the value of Auckland properties each year back to 2009. It shows there are now 233,000 fewer homes under $600,000. Homes in this price bracket made up 78 per cent of the market in 2009, they now make up 21 per cent.

“Over the same period the number of homes over $1 million has skyrocketed. In 2009 they made up just 5 per cent of Auckland’s property market, they now make up almost a third.

“These figures are even more startling for stand-alone houses – those over $1 million have increased by a whopping 562 per cent and those under $600,000 have declined by 82 per cent.

“This data shows affordable housing has almost disappeared from Auckland. While Auckland Council’s Unitary Plan provides a framework for where desperately needed homes can be built, the Government needs to roll up its sleeves and make sure affordable homes are actually built.

“National is so out of touch it is still denying there is a housing crisis. It refuses to acknowledge Auckland needs a government-backed affordable house building programme.

“Labour’s KiwiBuild programme and Affordable Housing Authority will deliver the large volume of affordable homes Auckland is crying out for. The not-for-profit development at Waimahia Inlet is a perfect example on a small scale of how quality affordable houses can be built if there is the political will.

“Labour will also crack down on speculators and reform the way infrastructure is funded to encourage more development. Only Labour has a comprehensive housing policy to address the housing crisis,” Andrew Little says.