Landscaped complete properties for those who can afford them add to stock and leave older cheaper homes for first home buyers. That's an important part of 'the market sorting it out'. If the market can't - the govt. won't be able to either.
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That would be great if it was true, but older homes are not cheaper homes.
Older homes are mostly on larger sections where developers wanting larger sections to build several dwellings, compete with home buyers.
Newer homes or developments are often on smaller sections & land is the major cost component.
Land banking by speculators & also zoning tightly control & restrict the amount of available land, driving up prices of available land & older houses on larger sections.
The Free Market will not sort out Land Banking or free up Urban Boundaries.
That will need govt intervention.
Speculators know that Govt intervention & Bureaucracy usually means a payday
especially with a Labour Govt prepared to empty bucketfuls at any issue ..
Has the current Govt not woken up to that ? Just ease up the factors on the pressure
points without crucifying innocent parties & end users / occupiers ,, not difficult is it
without all their weird & wonderful Socialist dreaming that only results in supply,
demand & pricing bubbles ..:) Council bureaucracy, levies, red tape, hold ups
etc are yet another can of smothering r worms, with nothing much happening fast IMO
To a degree Govt have created the issue, postured and dug the hole deeper by far with
their off target shooting from the hip. It can be very easily fixed with the right mindsets
and that is apparently not what currently resides in Govt benches :)
Why put more unworkable limits in ? The suggestion is as bad as punishing innocent
RP owners for value increases & denied interest deductions - both largely not their doing ;)
Limitations on sales again inhibits new property owners coming in, by putting constraints
on the outgoing owners. Yet another poorly thought through mistargeted idiot policy IMO
If you want to increase RP Housing stock - you do not punish a fair element of the Supply
market as the twits in Wellington have done repeatedly .. Everyone is paying for short
term temporary housing big time via taxes for these crazy Govt antics ;)
New home owners are lucky if they can secure borrowing, if they can make deposit levels
then exposed to vagarities of pricing in the market & increased interest cost going forward
assuming they can make all the rungs of the ladder. It shouldn't be this way :)
When will Govt's wake up to not meddling in markets or trying to control free markets
which have previously operated quite well in past (look back only to Clark & Cullen's era
- not a problem or a shade of what Ardern / Robbo have orchestrated now ) ? ;)