August 13, 2014
Maori home ownership in crisis
Labour leader David Cunliffe says fixing a collapse in home ownership rates is going to take some tough steps.
He says people are earning less now in 13 out of 16 regions than when National came to office, more than a million hectares of farmland has been sold to overseas buyers in the past year alone, and overseas buyers are distorting house prices in some centres.
He says that's why Labour will require foreign buyers to show why purchases of more than 5 hectares of farmland are in the national interest, and it will stop sales of urban residential real estate to non-resident foreigners unless they are building properties.
He says people need to retain the hope of buying their own homes at an affordable price.
"Home ownership now is at an all time low in New Zealand, below half, and home ownership rates for Maori and Pasifika have really collapsed in the term of this Government. That's a really bad development, so we want to restore the kiwi dream, we want to give kiwis the opportunity to buy their own homes. That's why we have got Kiwibuild that will put 100,000 more affordable houses in the market," he says
David Cunliffe says Labour will also address a short fall in emergency and social housing.
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