Low-income earners to get boost
Thursday 29 April 2004
A boost to the accommodation supplement is expected to offer immediate relief to low-income earners in the Budget as the Government considers longer-term measures for first-home hopefuls squeezed out of the property market.
By The LandlordA housing strategy due for release today canvasses options to boost home ownership including savings incentives, deposit assistance, shared equity and sweat equity as the Government looks at ways to bridge the widening gap between house prices and incomes among the lowest paid.
The strategy also signals tougher and potentially costly building standards because of concerns about the shoddy state of New Zealand's housing stock and the downstream health effects. Wider provision of social housing by private landlords and nonprofit groups is another proposal.
But more immediate housing relief for low-income earners struggling to keep pace with rising rent and mortgage payments is expected in next month's Budget when the accommodation supplement is tipped to rise.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.