You are using an older browser version. Please use a supported version for the best MSN experience.

House price rises prompt calls for action

NZN 2/08/2016

New figures showing house prices rising at the fastest quarterly rate in 12 years have drawn fresh demands from opposition parties for government action.

Quotable Value on Tuesday reported the national average house price had topped $600,000, and in Auckland it was just shy of $1 million at $992,207.

Hamilton, Queenstown and Tauranga saw some of the fastest growth, with Hamilton values soaring 31.5 per cent over the past year - twice the pace of Auckland.

Labour leader Andrew Little says the average Auckland house price is now double what it was when National took office in 2008.

"Auckland house prices went up $552 a day in the last month and continue to accelerate," he said.

"Today's figures show that all (housing minister) Nick Smith's frantic work hasn't made the slightest bit of difference to the housing market."

Mr Little says all that's happened is that speculators are fanning out across the country, making home ownership more unaffordable in places like Waikato and the Bay of Plenty.

"The government needs to take off its ideological blinkers and build affordable homes that people can live in, and it should be cracking down on property speculators," he said.

The Greens also say the government must urgently commit to building affordable homes.

"Experts say the Christchurch housing market is slow and steady because lots of new homes are being built, which is what we'd like to see in the rest of the country," said co-leader Metiria Turei.

"A family in Christchurch saving for an average priced home below $500,000 is going to feel a lot more optimistic than an Auckland family looking at endless streets of million dollar houses."

image beaconimage beaconimage beacon