Property

Concern over falling home ownership rate

The Salvation Army today called for radical new strategies from the Government to reverse an alarming trend in falling home ownership rates.

Wednesday, March 09th 2005

A Salvation Army report released today, From Housing to Homes, urges the Government to assist low and modest income households into home ownership. The report outlines options, and the costs and risks involved.

The Salvation Army Social Policy and Parliamentary Unit's director, Major Campbell Roberts, said home ownership helped prevent people falling into poverty and the Government should be doing more.

"Promoting and assisting people into home ownership used to be an important part of government housing policy.

"It needs to become so again."

Government statistics show the expectation is that home ownership rates are likely to fall below 65 per cent within 10 years.

Home ownership in New Zealand peaked at 73.8 per cent in 1991 but it fell to 67.8 per cent by 2001.

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SBS FirstHome Combo	6.74
Heartland Bank - Online	6.89
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.55
SBS Bank Special	6.69
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
ASB Bank	6.75
Unity	6.79
Co-operative Bank - Owner Occ	6.79

SBS Bank Special	6.19
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
SBS Bank	6.79

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50