New Zealand Labour Party

Solution to rent rises lies in building houses and stopping speculators

The spread of rental increases from the big cities to the surrounding regions shows why we need to get on top of the housing shortage build homes our families can afford, and lock out the speculators, says Labour’s Housing spokesperson Phil Twyford.

“The latest figures from MBIE show that, since National came to power, rents are up 37 per cent, far ahead of wages. Auckland, Tauranga and Queenstown have now seen average rents increase over $150 a week since 2008.

“Rents are up six per cent nationwide in the past year. Places like Kapiti, South Wairarapa, Hurunui, and Carterton saw increases of over $50 per week in the past year, showing the pressure of the housing shortage in the cities is forcing up rentals further and further out.

“The same lack of housing that is forcing up rents is forcing families into cars and garages, and on to the streets.

“We need more positive action on housing. National simply has not fixed the problem.

“Labour will build affordable starter homes and sell them to first home buyers at cost. At the same time, we’ll close down the speculators’ tax loophole and ban overseas speculators from buying existing houses. And, we’ll require all rentals to be warm, dry, and healthy to live in.

“Labour’s positive plan will deliver quality, affordable homes to our families, stabilise rents, and a fair shot at owning a place of your own,” says Phil Twyford.