The latest international survey of housing markets provides more damning evidence that National’s half-hearted attempts to tackle the housing crisis are failing miserably, says Labour Leader Andrew Little.
“The Demographia International Housing Affordability Survey underlines what Labour has been saying for some time - the Kiwi Dream of owning your own home is fast slipping away for a generation of New Zealanders.
“Skyrocketing house prices coupled with low wage growth have pushed Auckland from fifth to fourth place as one of the least affordable housing markets in the world. Only Vancouver, Sydney and Hong Kong were higher in 92 housing markets surveyed.”
“Overall, eight cities in New Zealand are identified as “seriously” or “severely” unaffordable.
“The situation continues to get bleaker under National. Just last week, official figures showed that home ownership had slumped to its lowest level since 1951. New data also showed house prices rising three times faster than incomes across in the past year.
“It’s clear that National has run out of ideas - its piecemeal attempts to increase housing supply are failing. National’s Auckland Housing Accord failed to meet its targets, its attempt to reduce building materials prices led to prices increasing, and its RMA reforms have been a shambles.
“Bill English’s Government doesn’t seem to care that rising housing prices are putting the squeeze on household budgets, and forcing people to live in smaller, more overcrowded homes, even cars and garages.
“Along with thousands of parents, I fear my own child will never be able to see his family enjoy the comfort and security of their own home. It’s not right. I want his generation to have the same opportunities my wife and I had.
““That’s why the government I lead will build 100,000 new homes under KiwiBuild and crack down on the speculators who are jacking up prices.
“There is a better way. We have the solutions. National has failed. It’s time for a change so a Labour-led government can get on with the house building programme we need to keep the Kiwi Dream alive,” says Andrew Little.