Labour Details Affordable Housing Plan

August 28, 2014 New Zealand Finance

The Labour Party intends to offer affordable homes to New Zealanders for NZD 577 per week.

In the run up to the national election the Labour party has put forward its proposed policy for affordable housing in the country, claiming that their plan would leave a couple buying their first home approximately NZD 200 better off per week than the equivalent plan from the National Party.

According to a statement issued by the Labour Party, “Labour’s KiwiBuild policy will build 100,000 new affordable homes over ten years and sell them at cost to first home buyers”, a move, which it claims will help increase the supply of housing in the country.

The houses, which would cost approximately NZD 360 000 in Auckland, will cost NZD 577 per week in repayments for a couple earning NZD 75 000 per year.

The equivalent plan from the National Party will set the same couple back by NZD 777 per week.

Photo By: Great Valley Center