New Zealand Labour Party

Housing affordability crisis gets worse under National

News that Auckland’s housing is now among the 10 most unaffordable in the world confirms the Government’s housing policy has failed, Labour’s Housing spokesperson Phil Twyford says.

“After six years in power, National’s housing policies have not fixed the housing crisis, they have made it worse.”

The latest Demographia survey shows Auckland housing has got more unaffordable in the last 12 months and is now worse then New York. Christchurch and Tauranga have also worsened in the last year.

“Nick Smith has been Minister for two years. In that time housing affordability in Auckland has got worse, with the city now having some of the most unaffordable housing in the world.

“If the definition of insanity is doing the same thing over and over while expecting a different result, then Nick Smith's approach to the Auckland housing crisis is clearly mad.

“National has failed to significantly increase the supply of new homes. Consents are running at about half what Auckland needs just to stand still. And even if the Government's ambitious targets are met over the next three years they still won't eliminate the 18,000 shortfall of new homes that has built up under National.

“Under National’s policies, Auckland house prices are predicted to keep on rising. The Government has priced younger Kiwis out of the housing market.”

Contact: Phil Twyford 027 444 9161