PHOTO: The National Party leader says no one wants to lose their life savings and be left with debt if the housing market crashes. Source: Breakfast
As housing prices get “worse and worse”, National Party leader Judith Collins says no one wants to lose their life savings and be left with debt if the housing market crashes.
Her comments come as Prime Minister Jacinda Ardern has been assailed from both sides of the political spectrum this week about her Government’s apparent lack of effective action on the housing crisis as prices continue to soar.
Auckland’s median house price hit $1 million in October while the median house price nationwide increased by 19.8 per cent, from $605,000 in October last year to $725,000 this October, according to The Real Estate Institute of New Zealand (REINZ).
Yesterday, National’s revenue spokesperson Andrew Bayly said the Government needed to “rein in” the Reserve Bank after it moved this week to roll out a Funding for Lending Programme – which intends to see reduced costs for banks with an expectation that is passed on for home loans and businesses.
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