The massive difference in housing markets between the major cities and the regions is creating a ‘them and us’ divide that hurts the country, says Labour's Housing spokesperson Phil Twyford.
“The stark contrast between the fortunes of cities and regions is highlighted by the housing market. In Auckland and Christchurch it is booming with price increases of almost 40 per cent in Auckland City in seven years.
“Yet in places like Kawerau, Wairoa and the Far North prices have plummeted by 20 to 40 per cent.
“National has done nothing to increase the supply of affordable homes in Auckland – building just six houses in 12 months. Meanwhile regional New Zealand has been badly hit by loan-to-value ratios which were only brought in to slow the Auckland housing market.
“This shows just how badly National has handled the housing crisis in this country. Homeowners in regional New Zealand are getting poorer while they see investors in Auckland and Christchurch having a field day.
“It is creating a them and us divide between town and country that is not good for New Zealand,” says Phil Twyford.