Greens Slam National Over Property

July 29, 2016 New Zealand Finance

The Green Party is suggesting that new data is showing that the current government is more interested in supporting housing speculators as opposed to New Zealanders wanting to buy their first home.

According to the Green party of New Zealand, the current government has allowed the country to become a “property speculators’ paradise”.

In a press release issued on July 26th the green party said that data from the Reserve Bank has shown that in June 2016 investors were issued NZD 2.56 billion on loans, while first-time home buyers were issued loans worth only NZD 738 million.

It was also shown that a total of 7 000 loans were issued to investors, while only 1 970 were issued to first-time homebuyers.

The Green party further went on to say that “National is clearly more interested in helping property speculators buy their third or fourth house, than it is in helping first home buyers get into their own home.”

Photo By: GPS 56

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