Summarised by Centrist
Don Brash discusses the fluctuating opinions in recent media reports about re-entering the housing market.
Reports suggest a resurgence in Auckland’s housing market and a high profit rate from residential property resales. Yet, this optimism is contrasted by historical challenges in housing affordability and ineffective government policies.
Both National and ACT parties have promised reforms to improve housing affordability, but considering past government failures, there’s cause for scepticism.
Local governments’ reluctance to free up land for housing adds to the problem, potentially leading to further escalation in house prices and its associated social issues. Brash warns that if house prices continue to rise, a future leftwing government will likely implement wealth or capital gains taxes.