New Zealand Labour Party

Joyce making it up on Aussie non-resident ban

Steven Joyce is at such pains to deflect attention away from his Government’s failure to address the housing crisis, he is now making up stories about Australia’s ban on non-resident house buyers, Labour’s Housing spokesperson Phil Twyford says. 

“The Economic Development Minister claims the Australian Federal Government’s ban is not working and it’s now trying to change it.

“However, according to Australian China Relations Institute spokesperson James Lawrenson the ‘Federal Government is happy with the rules’ and ‘if anything they’re getting tougher on enforcement’. 

“In fact, an Australian Federal Parliament cross party committee has recommended giving its tax department more powers to clamp down on those using trusts and companies to pose as Australian citizens. 

“Like the Australian Government, Labour believes offshore investors should have to build new homes and add to the supply of houses, instead of pricing Kiwi families out of the market. 

“In recent days I have been inundated with emails of support for Labour’s policy which has also been backed by BNZ economist Tony Alexander. 

“New figures out from Trade Me today show the average asking price for an Auckland home has soared by $130,950 in the past year, a whopping ten times the average increase across the rest of New Zealand. 

“Aucklanders are tired of losing their homes at auctions to offshore investors down the end of a telephone line in another country. It is time the Government woke up to this,” Phil Twyford says.