The Prime Minister Jacinda Ardern and Housing Minister Megan Woods are blaming property speculators for the massive jump in the average house price. But you’ll never guess who is the biggest property speculator is:

National is accusing the Government of locking first-home buyers out of the market by purchasing $750 million worth of houses from the private sector.

But Housing Minister Megan Woods has defended her housing agency’s actions, saying the spending was only needed to plug the state housing gap left by the previous National government.

Woods was grilled on the topic by National’s housing spokeswoman Nicola Willis in Question Time this afternoon.

She revealed that Kainga Ora had spent $750m over the past three and a half years on buying property across the country, to turn into state homes.

NZ Herald

So if you are struggling to be able to buy your first home it is because the Government has inflated the housing market nationwide by pumping $750 million into it.

You can’t outbid a spendthrift government with an open wallet of your own money.

Willis got the information through a written question, which showed 1053 homes that the Government agency bought from the private market.

The response to her question points out that 1053 is part of the 6131 public houses the Government has delivered.

NZ Herald

So they haven’t built houses at all, they’ve pumped the cash into the housing market, claimed they’ve delivered them as state houses and shafted first home buyers at the same time.

Meanwhile the salad dodger minister was claiming great success by helping just 12 families into their first home

Today’s figures come after Woods was forced to reveal that the Government’s Progressive Home Ownership scheme had housed just 12 families since it was announced in 2019, and officially launched in July 2020.

NZ Herald

This Housing Minister appears to have the same performance issues as the last one she was supposed to be better than.

Anyone miss the grandiloquence of Phil Twyford yet?

These fools like talking about the sorts of levers they can pull; well, they pulled the lever marked “dump loads of cash into the over-heated market” and are now genuinely surprised that house price inflation is surging.

They are economic vandals.

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Speculators Blamed for Housing Issues; You’ll Never Guess Who the Biggest One Is
Cam Slater

Cam Slater

As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news,...