Crack down on speculators
Ban foreign speculators from buying existing homes
Labour will ban foreign speculators from buying existing New Zealand homes. This will remove from the market foreign speculators who are pushing prices out of reach of first home buyers.
Tax property speculators who flick houses within five years
Labour will extend the bright line test from the current two years to five years. This will target speculators who buy houses with the aim of making a quick capital gain. Current exemptions from the bright line test will continue.
Create a level playing field for first home buyers
Speculators will no longer be able to use tax losses on their rental properties to offset their tax on other income which gives them an unfair advantage over people looking to buy their first home.
Read more about our plans to end this loophole here >>
Read more about our plan to address housing demand here >>
Build more affordable houses
Build 100,000 affordable homes across the country
Labour’s KiwiBuild programme will build 100,000 high quality, affordable homes over 10 years, with 50% of them in Auckland. Standalone houses in Auckland will cost $500,000 to $600,000, with apartments and townhouses under $500,000. Outside Auckland, houses will range from $300,000 to $500,000.
Create an Affordable Housing Authority to fast-track development in our cities
Labour will establish an Affordable Housing Authority to work with the private sector to cut through red tape and get new homes built fast. It will partner with private developers, councils and iwi to undertake major greenfields and revitalisation projects, building affordable homes with KiwiBuild and the private market. These homes will be part of great communities built around parks, shopping centres and transport links.
Growing the building workforce
Increased house-building will require a larger workforce. Labour’s Dole for Apprenticeships policy will subsidise employers to take on around 4,000 young people for on the job training in fields including building and construction. Labour’s policy of three years free post-school education will see tens of thousands more people study in all fields, including building and construction. KiwiBuild is projected to create 5,000 new jobs at its peak.
Remove barriers that are stopping Auckland growing up and out
Labour will remove the Auckland urban growth boundary and free up density controls. This will give Auckland more options to grow, as well as stopping landbankers profiteering and holding up development. New developments, both in Auckland and the rest of New Zealand, will be funded through innovative infrastructure bonds.
Support for those in need
Focus Housing New Zealand on helping people, not making a profit
Labour will make Housing New Zealand into a public service rather than an SOE, and will substantially increase the number of state houses. Unlike the current government, Labour will not milk state housing for a dividend, and will end its programme of state house sales.
Read more about our plans for Housing New Zealand here >>
Take serious action to end homelessness
Labour will take serious action to end homelessness in line with the recommendations of the Cross-Party Homelessness Inquiry.
Require all rental homes to be warm, dry, and healthy.
Andrew Little’s Healthy Homes Guarantee Bill is currently before Parliament. It will set standards that will require all rental properties to meet proper standards in: insulation, heating, ventilation, draught stopping, and drainage. This will ensure people who live in them don’t get sick.
Invest in warm, dry homes