The next Labour Government has a comprehensive plan to tackle the housing crisis by building affordable houses and cracking down on speculators, says Leader of the Opposition Andrew Little.
“The housing crisis is out of control and National has proven it is incapable of fixing it. Home ownership is at its lowest level in 65 years and we have a government in denial.
“Only Labour has a comprehensive plan to tackle the housing crisis and restore the Kiwi Dream of home ownership.
Labour’s announcements today include three main elements:
- An Affordable Housing Authority that will cut through red tape to deliver large-scale master-planned communities [NEW]
- 100,000 new affordable homes for first home buyers, with 50% in Auckland [UPDATED]
- A tax on speculators by extending the bright line test to five years [NEW], on top of a ban on non-resident foreign speculators buying existing houses. [RECOMMITMENT]
“Labour’s Affordable Housing Authority will have two chief functions – acquire land for housing, including Crown land, and partner with the private sector, councils and iwi to create housing developments with an average of 50 per cent KiwiBuild affordable homes.
“The Authority will use the best of public and private sector expertise to work with developers to cut through the red tape, with fast-tracked consenting so it can get on with building the houses we need.
“The houses will be in great communities, with modern design and infrastructure as well as parks, shopping centres and transport links.
“Labour will build large numbers of affordable homes for first home buyers. National can’t and won’t get them built. Of the 100,000 KiwiBuild homes, 50,000 will be in Auckland and 50,000 in other parts of the country in need of affordable housing.
“Labour will deal with the speculators driving prices out of control by expanding the bright line test from two years to five years. This will stop speculators making a quick buck from flicking houses and is on top of our ban on overseas speculators from buying existing homes.
“I am also announcing that Labour will consult on ending negative gearing, which is effectively a taxpayer subsidy for speculation.
“Labour’s plan includes recent announcements to stop the state house sell off, build more warm, dry state houses and increase the number of emergency beds to house the homeless.
“The housing crisis is out of control and is only going to get worse under the current government. It needs a full and comprehensive solution. Only Labour can provide that. It’s time to change the government,” says Andrew Little.