Nick Smith, housing, environment, building and construction minister, vowed Resource Management Act reform. Deputy major Penny Hulse revealed plans for a new Auckland Development Agency, understood to be a merger of council-controlled Auckland Council Property and Waterfront Auckland. They would become one new more powerful urban transformational unit. But she said she did not want to reveal details before the announcement.
[NZIER principal economist] Mr Eaqub said foreigners were not responsible for driving up prices and at maximum, only 8 per cent of house sales were to non-residents. New Zealand investors and movers dominated new house purchases, he said citing CoreLogic data showing investors made up 45 per cent of house purchases, first-home buyers only 19 per cent and movers 28 per cent.
There are a lot of misconceptions of who are the active participants in our housing market,” he said.
These three form the ‘expert’ panel. Â So far I’m underwhelmed. Â Read more »