Housing MInister Chris Bishop sets 'long-term' price target of three to five times household incomes
I VERY much doubt the economic competence of the new government. First Seymour wants to move massive amounts of money from poor to rich, now Bishop lives in cloud kuckoo land. Median income is $66,200 per year in 2023, so 50% earn less, 50% more (sometimes MUCH more). 3-5 times of that is $200,000-330,000. Even if they decide to give the land away for free you can’t build a house for that. And Bishop MUST know that. If they assume two full earners (aka the better off ones) it’s $400,000-660,000 for a house (including land) - which developer can provide that? So the government would need to build the houses - massively subsidised by the tax payer … which they don’t want to do.
So HOW can Bishop spout such nonsense???
From mortgages.co.nz...
In October 2023, BNZ published a report comparing New Zealand’s median section price, plus consented new-build cost, with the median price for an existing home each year. Using these median values, it has nearly always been more expensive to build, except for 2021-2022 when existing house prices rose sharply before falling again. As median building costs continued to rise into 2023 and 2024, building became significantly more expensive than buying an existing home.
Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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72.7% We work hard, we deserve a break!
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15.9% Hmm, maybe?
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11.4% Yes!
Some Choice News!
Many New Zealand gardens aren’t seeing as many monarch butterflies fluttering around their swan plants and flower beds these days — the hungry Asian paper wasp has been taking its toll.
Thanks to people like Alan Baldick, who’s made it his mission to protect the monarch, his neighbours still get to enjoy these beautiful butterflies in their own backyards.
Thinking about planting something to invite more butterflies, bees, and birds into your garden?
Thanks for your mahi, Alan! We hope this brings a smile!
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