The steep increase in house price numbers released today shows how important it is that the Government gets on with RMA reform, immediately, National’s Housing spokesperson Nicola Willis says.
“This increase in house prices is utterly unsustainable and puts at risk the home ownership aspirations of tens of thousands of New Zealanders.
“According to the newly released numbers from REINZ there has been a 20 per cent increase in house prices nationwide in just the last 12 months, with the median house price now $725,000.
Wellington has been hit the worst, where house prices have now increased more than 50 per cent in the last three years.
“The Reserve Bank isn’t helping, with low interest rates and money printing adding fuel to the fire. In announcing the Funding for Lending scheme we were surprised the Reserve Bank has chosen not to target lending to more productive areas of the economy.
“New Zealand simply isn’t building houses fast enough.
“Urgent reform is needed to the RMA and our planning system to unlock housing supply.
“After three years of wasted effort and energy on the KiwiBuild failure, the Government must turn its attention to addressing the underlying planning and infrastructure challenges that have strangled New Zealand’s housing supply for far too long.”
“National will work constructively with the Government to support durable RMA reform that can outlast a change of government.
“Urgent legislation is needed. We can’t afford to wait for three more years of reports and working groups, what’s needed now is action.
“We look forward to the Labour Government introducing reform legislation with the urgency required.”
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