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Treasury to govt: Have a housing exit strategy

Author
Felix Marwick,
Publish Date
Tue, 30 Jun 2015, 5:57AM
John Key (Getty Images)
John Key (Getty Images)

Treasury to govt: Have a housing exit strategy

Author
Felix Marwick,
Publish Date
Tue, 30 Jun 2015, 5:57AM

 

Newly released papers reveal the government has been told to limit its involvement with its plans to set aside Crown land in Auckland for residential development.

The Soap Box: Housing NZ or Housing Australia?

Documents released under the Official Information Act show that last November, Treasury was recommending the government have an 'exit strategy', should it decide to proceed with the policy.

Treasury told the government the proposal was worth considering, but that any development should encourage denser and more affordable housing.

It also told the government it's role as developer should be time limited, that this should be made explicit as part of any work programme.

Prime Minister John Key was asked if purchasers will have to agree to hold on to the properties for a set period of time - a mechanism that'd prevent the houses being quickly on-sold for profit.

"You'd have to go and check with the Minister what the contract will ultimately look like, Key replied.

"But the contract is for, as I understand it, a long running provision for social houses."

 

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