The Labour Party was elected in 2017 after promising to solve the housing crisis. They prated on about how only they had solutions and that housing was simply unaffordable and locking thousands out from owning their own home.
The latest house price statistics show, yet again, just how hollow their promises were:
House prices increased by 25.2 per cent over the past year to hit a record high in July but there are signs price rises are easing, the Real Estate Institute says.
The institute’s latest sales figures show the national median price rose to $826,000 in July, up from $659,500 in July last year.
Two out of the 16 regions reached new record median prices, while two regions had equal records and 20 districts reached new record median highs.
One of the regions was Auckland which was up by 28 per cent to a record median price of $1,175,000 in July, up from $918,000 last year.
Canterbury also hit a new record median price with a 24.7 per cent increase to $595,000 from $477,000 in July last year.
Manawatu/Whanganui, where prices gained 31.8 per cent price, and Southland, which was up 16.7 per cent, had record median prices equal to those recorded last month, with $580,000 and $420,000 respectively.
Stuff
Sales volumes have eased, but it is winter. Wait until the warmer months start and you will see sales numbers pick up.
Labour has failed in the most spectacular fashion possible. Their promises are hollow; their policies are intellectually and economically bankrupt.
Renters are locked out of the market and facing ever-increasing rents, again because of Labour’s policies.
The winter of discontent grows.
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