Ground-breaking new policy to make homes cheaper
Phil TWYFORD
Housing Spokesperson
7 November 2015
Labour’s ground-breaking new policy on reforming planning rules will make housing more affordable, Labour’s Housing
spokesperson Phil Twyford says.
“Labour will free up density and height controls to allow more medium density housing and reform the use of urban growth
boundaries so they don’t drive up section costs. This will curb land bankers and speculators.
“The other new element is changing the way we fund infrastructure for new developments. Currently those costs are either
subsidised by the ratepayer or passed by the developer onto the price tag of a new home. That makes houses much more
expensive. It also means they are paid off through mortgages at expensive bank interest rates.
“Our new policy will see infrastructure funded by local government bonds, paid off over the lifetime of the asset
through a targeted rate on the properties in the new development. This will substantially reduce the cost of new
housing.
“Reforming the planning rules will stand alongside Labour’s commitment to crack down on speculators, and build 100,000
new homes for first home-buyers. These are the game-changing reforms that will fix the housing crisis and renew the
dream of Kiwi homeownership.
“National has been blaming councils and the Resource Management Act for rising house prices for the past 10 years, but
have done precious little to fix the problems.
“Labour has the policies and the political will to get the job done,” Phil Twyford says.
ENDS