More House Buying Gloom for Aucklanders with Record Migration

The latest record migration figures continue to cast a shadow of gloom over Auckland house hunters, says New Zealand First.

“Uncontrolled migration, with over a thousand people flooding in each week, adds fuel to the already overheated Auckland property market,” says New Zealand First Leader Rt Hon Winston Peters.

“In the year to March net migration reached 56,000. Most new immigrants are settling in Auckland, and they will all need a house, yet Housing Minister Nick Smith claims immigration has no affect on soaring demand and prices.

“New Zealand must wind back on immigration and stop sales to non-residents at the very least.

“Mr English’s suggestion that nothing has been overlooked in the government’s efforts to curb the runaway market is plain dumb, stubborn and false.

“Migration is choking the system. Foreign speculation is running rampant.

“A major cause for that is staring the government straight in the face and yet it thinks glib assurances are a substitute for sound policy.

“Mr English is also wrong to say the rest of New Zealand is unaffected by the high prices in Auckland.

“Already Aucklanders are cashing up and moving elsewhere with their home sale profits – as they spend in other towns, up the prices will go.

“Unaffordability will travel around New Zealand as a result of the Auckland market,” says Mr Peters.

ENDS

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