Sunday Panel: Will Jacinda Ardern actually do anything about house prices?

Author
Newstalk ZB,
Publish Date
Sun, 15 Nov 2020, 12:45PM
(Photo / Getty)
(Photo / Getty)

Sunday Panel: Will Jacinda Ardern actually do anything about house prices?

Author
Newstalk ZB,
Publish Date
Sun, 15 Nov 2020, 12:45PM

Prime Minister Jacinda Ardern says she wants to ensure first home buyers can get into the market after it was revealed this morning that house prices have increased nearly 20 per cent.

House prices have increased 19.8 per cent year-on-year with the median now at $725,000. Ardern this afternoon said figures show an increase in first-time buyers in the market since 2017, but that investors in the market had remained the same.

"Obviously we want to ensure our first home buyers can get into the market that is something that is top of mind for us ..."

"It just cannot keep increasing at the rate that is," she said about the rising prices.

However, speaking on The Sunday Panel with Francesca Rudkin, political commentator Ben Thomas says that they won't do anything about it, not while 64 percent of people are homeowners. 

"While those median voters are still people that own a home and buying an investment property, no Government is going to do anything to make them feel less well off.

"However bad Jacinda Ardern says she feels about this, she is intending to do absolutely nothing about this."

Cooking the Books podcast host Frances Cook agrees, says that the Prime Minister tends to "just pull a sad face and talk about it as if it's weather".

"It is absolutely part of the economy. It is an issue humans have created, and one humans can 100 per cent fix, and she needs to step up to the plate."

Both panelists agreed that a lack of housing supply is not where it should be, and new LVR restrictions on investment property buyers could have an impact.

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