Saturday, May 4, 2013

Housing NZ should not be competing against first home-buyers - they should be building new homes...

A high-density (state housing) apartment block...
A high-density (state housing) apartment block in the Auckland CBD, Auckland City, New Zealand. Looking west from Greys Avenue. (Photo credit: Wikipedia)

Housing NZ should be building new houses, rather than out-bidding first home buyers in the Auckland market, Labour says.

Labour's Phil Twyford is criticising state housing provider Housing New Zealand for out-bidding first home buyers in the hot Auckland property market.
People at the auction of a two-bedroom property in west Auckland recently were surprised when a phone bidder representing Housing New Zealand bid strongly to secure the property, the Herald on Sunday reported.
The house, with a CV of $270,000 went under the hammer for $380,000.
"Really in a tight market as we have where first home buyers are desperately struggling to get into the market and are locked out by a dire shortage of affordable housing it is nonsensical for the government to be competing against them and out-bidding them," Mr Twyford, who is Labour's Housing spokesman, told NZ Newswire.
The government should be building affordable homes, he said.
Average house prices in Auckland fell from a record high last month, snapping a three-month advance, as more properties came to market, Barfoot & Thomspon, the city's biggest realtor said on Friday.
The average sale price fell about 0.5 per cent to $643,089, having reached a record $645,928 in March, the firm said. The median price dipped 2.4 per cent to $566,000.

Acknowledgements:  NZN

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