Govt to open up more land for houses

[drelly]

The Government will work with councils to open up more land for development as it seeks to rein in New Zealand's high house prices.

Finance Minister Bill English will unveil the Government's response to the Productivity Commission's inquiry into home affordability after the Cabinet meets today.

He said it would act to address one of the main issues identified by the commission - a lack of land for building new homes - but the package was a broad programme.

read more: http://www.nzherald.co.nz/business/n...ectid=10843563

[TheLiberalLeft]

English has enough caveats in there to ensure nothing substantial happens in the next decade.

"Building costs will be reduced through work on the Building Act". Oh yeah? We'll see.

It's one thing reducing RMA compliance, but what about the builds that don't need it? Still expensive for those people.

[Rosco]

My thoughts were similar to TLL.

Great in theory, but how are they practically going to do this and how long will it take?

Is the government going to force any landholder with development property to;
a) sell cheap to the government, so that the government can develop the land
b) sell cheap sections?

Ross

[McDuck]

English has enough caveats in there to ensure nothing substantial happens in the next decade.

"Building costs will be reduced through work on the Building Act". Oh yeah? We'll see.

It's one thing reducing RMA compliance, but what about the builds that don't need it? Still expensive for those people.

Why not just cut off credit, that will drop the price quickly and then the buyers can buy at a lower price and be in debt for less time, will have more disposable income also.

[speights boy]

....and what about the retirees McDuck?
The ones currently receiving 5% on their bank deposits.
What will happen to their disposable income?