National scream “More of the same please” while NZ gasps at their unblinking creation of more slum lords
National eyes land to ease home crisis
Plans to urge councils to free up land for development should ease the housing affordability crisis, the Government says.
A survey published yesterday shows New Zealand is the second most expensive of six selected "housing bubble" countries in which to buy a house, just behind Australia with median prices 5.7 times the average national income. Housing Minister Phil Heatley said yesterday that the Government planned initiatives to make home ownership more affordable, including:
Working with councils to remove planning restrictions on Maori-owned land for housing developments.
Ensuring councils planned for a "forward supply" of suitable land zoned for new housing.
Boosting the Housing Innovation Fund which provides money for community housing providers to $20 million.
Introducing a "Gateway" housing project, which would provide first homeowners the use of a ready-to-build leased section. They would later have the first option to buy the land at its original capital value, plus 3 per cent for every year they lived on it.
Wow. Wow. Wow. Incredible huh, our property prices aren’t the problem of middle class speculators who all wanted to get rich quick in an overheated market with no capital gains tax in a banking environment where the banks were throwing cheap cash around to everyone with a pulse (and that entire cheap credit bubble has imploded) has nothing to do with our house prices being high, oh no, apparently Councils haven’t raped enough greenbelt land and National are going to throw out any rules that force land developers into being more humane and not the running hyenas of capitalism they usually are. Won‘t this new environment just help out property developers and the eventual slum lords they’ll end up selling these properties to, indeed won’t this just aid in the creation of more slum lords, because 'cheap' or not, what bank will lend by the end of the year with less than a 20% deposit? How many first home buyers have $70 000 for their deposit? This is a wet band-aid at best.