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Landlords: youse are better off renting

Written By: - Date published: 8:43 am, July 23rd, 2008 - 28 comments
Categories: housing - Tags:

The graphic to the left was produced by the Property Investors’ Federation and was printed unquestioned in the Herald yesterday. The PIF uses the figures to claim Kiwis are better off renting. Here’s what’s wrong with them.

First, it’s comparing the average rent to the cost of buying a median house. Rental properties tend to be lower quality, cheaper – so are likely on average to be worth well below the national median. Comparing apples with apples would look at the rent on properties of the same value.

Secondly and most importantly, if you’re buying the house at the end of 25 years, you own a house. If you rent, at the end of 25 years you have nothing. That’s a pretty serious difference. If you buy rather than rent you might pay some more (less than the difference in the graphic though) but you end up with an asset in the end.

So, what is the Property Investors’ Federation‘s interest in trying to convince Kiwis they are better off renting? Well, as the name suggests, the PIF is a political lobby group that represents landlords – ie people who make money off others renting from them, people who obviously think that owning properties, multiple properties, is worthwhile.

Why would a group of landlords want people to think renting is better than buying?

– to decrease demand for buying houses, so PIF members can buy them more cheaply
– to increase demand for rentals, allowing PIF members to put up rents
– to undermine the demand for the Government to intervene in the housing market with a large affordable housing policy. If the Government builds lots of affordable houses, PIF members’ tenants will be able to find cheaper rentals and cheaper houses to buy. That’s good for most Kiwis, bad for the PIF landlords.

Landlord lobby group comes out with flawed figures suggesting renting is cheap just as the Government appears to be developing a housing affordability policy. Funny coincidence that.

28 comments on “Landlords: youse are better off renting”

  1. T-rex 1

    Onya Steve.

    For a moment I thought you writing in support of the position!

    All good points. That aside though, I think until house prices correct (say a couple of years) people probably ARE better off renting.

    But yes, the PIF are being total wankers and hiding many benefits. And some costs.
    For example
    1) they say 90% of a $345k house, yet ignore the cost of capital on the $34k deposit they’re implying.
    2) They ignore the effect of inflation. Rents will increase with inflation, but mortgage payments will remain fixed.
    3) They use 10.4% interest. I don’t imagine anyone in the country is stupid enough to get a floating rate loan right now. 9% would be a far more realistic figure, yet they haven’t used it for obvious reasons.

    See Trav, the world is full of lying bastards who are out to screw people, you don’t have to believe in invisible unicorns to find them.

    edit: I think the biggest reason not to buy a house right now under the circumstances they describe is that if (cough – when) values do drop, you could very easily wind up with negative equity if your deposit is only 10%. Negative equity = foreclosure = bad.

  2. higherstandard 2

    T-Rex

    Agreed.

    Caveat emptor ……. that being said there will always be good deals and bad deals regardless of whether the market is buoyant or depressed.

  3. T-rex 3

    Absolutely – course, it’s a lot harder to approach things with due caution when all media, REINZ, and agents are peddling the “buy now or be forever in poverty” line. f*ckers.

    On an unrelated note, GOD I hate our sensationalist media.

    Headline: ‘Batman Star Denies Attack on Mum, Sister‘.

    The article then mentions that no charges were made.

    The article completely fails to mention that the charges under consideration were verbal assault class 4/5. What a f*cking beat-up!

  4. coge 4

    Thanks for posting this story Steve. I will play the devils advocate to your position. The PIF do have a point, many of their own members are renters themselves. So in some cases their suggestion does make very good economic sense. Landlording is not an entirely risk free business, times like these it requires testicular fortitude that not everyone has.

    I know I have covered the Govt suggestion to build affordable housing for HNZ tenants. A good idea in principle, as many of the existing HNZ buildings are not up to standard. However I stand by my opinion, that building sufficient centrally located affordable huosing is a virtually impossible suggestion. Ask anyone who has built in the last couple of years if you don’t believe me. The emphasis is on the “affordability” If an equal sum was spent renting existing buildings off the private sector the Govt could house perhaps ten times as many tenants. In fact HNZ, to their credit, already lease many such homes for their clients.

  5. BeShakey 5

    All good points. Plus 10.4% interest is fairly high, and all signs are that it’ll be coming down in the future. So assuming 10.4% over 25 years is a nice way of significantly increasing the cost of the house.

  6. higherstandard 6

    Indeed the print media is asinine all to often.

    You seem a bit depressed lately – if you need a smile take a look at this for another spin on world news.

    http://uncyclopedia.org/wiki/UnNews:Main_Page

  7. T-rex 7

    Ha!

    Awesome! Thanks :)

    Yeah, I’ll get over it. ‘Interesting times’ at present. Interesting in an awesome way, but still raised stress.

  8. MacDoctor 8

    Secondly and most importantly, if you’re buying the house at the end of 25 years, you own a house. If you rent, at the end of 25 years you have nothing

    Actually, if you put the extra $440.00 into an interest-bearing account, you will have about 1.7 million in 25 years.

  9. T-rex 9

    Actually, if you put the extra $440.00 into an interest-bearing account, you will have about 1.7 million in 25 years

    Aye. It’s still a poor comparison though. Especially since it wouldn’t be $440 for 25 years, as inflation would force the rent up over time. Swings and roundabouts, ups and downs, and in the long run it’s likely not all that different. In the short run, I’m with the “don’t buy a house” option. Sorry people who bought houses, that’s what you get for believing in the perpetual 12% capital gain fairy.

    I think the reason people who buy houses appear to end up more wealthy is that they’re forced to be. Your scenario is good in theory MD, but the reality seems to be that people put the 1.7 million into consumer products that end up worthless.

  10. MacDr. but, as T-Rex points out and I didn’t mention because the numbers get awfully complicated and too many assumptions are needed to model it, rents will be going up over those 5 years, the mortgage payments won’t – so the difference won’t be anything like that amount.

  11. Phil 11

    Good spotting Mac – Steve talks about ‘apples with apples’ and then ignores his own advice.
    I suspect he is right about rental properties being on average of lower quality. However the extent to which they are is debatable – I think the difference, on average, is going to be less that Steve’s implicitily assumed.
    A comparison of rental vs sale property on Trademe would be a good start for anyone with the time and inclination.

    “suggesting renting is cheap just as the Government appears to be developing a housing affordability policy. Funny coincidence that”

    The only funny part to the whole post is that you think this is new. One of the primary underpinning reasons we’ve been talking about housing affordability for the last, oh, lets say 4 YEARS, is because this type of analysis shows just how badly the investment doesn’t stack up.

  12. Phil 12

    “rents will be going up over those 5 years, the mortgage payments won’t”

    But the insurance component of ownership probably will as the value of the property increases. The maintenance will too as the house ages, and rates will continue ever upward.

  13. infused 13

    Rent will be hardly moving in the next 5 years. Also, your first point is wrong. I rent a very nice 3brdm house with double garage 5mins from work. It costs me $220 a week. It’s value is over $350k. GG assumptions.

  14. T-rex 14

    infused – Then your landlord is either a saint or a fool.

  15. Daveski 15

    There is undeniably a house affordability crisis.

    Without doubt, in the short term, renting is a far better option and all obligations and risks fall on the landlord eg think leaky buildings.

    Over the long term, house values tend to rise, mortgage payments remain static and bingo you have equity. As our Rachel says, it won’t happen over night but it will happen.

    I’m sure statistics support the view that people living in their own home tend to have better indicators of a more productive and happier, healthy life.

    However, I would like to see some robust debate around a couple of related points.

    First, the crazy tax laws that make owning a rental property so attractive (thereby increasing demand for entry level properties). I get benefits from owning a second home that I don’t get from owning my family home.

    Linked to this the fact that the Boomers have benefitted from the housing boom and have effectively cut many of the younger generation out. Add to this the generous super and we have upwards intergenerational transfers.

  16. Aaaaaarghhh! He said “youse” again! Steve, please stop murdering the English language!
    [I choose to use youse as a humourous rhetorical tool, not out of ignorance. Go have a cry about it on your blog, someone might read it some day. SP]

  17. uroskin 17

    If you put the difference between renting and paying mortgage into the sharemarket, or even Kiwisaver, you might end up with far more than what your freehold house is worth after 25 years. and then you still need a place to live when you want to realise that capital. And you have to consider all the other costs associated with ownership too which don’t stay constant either. And you still need an extra $1.7m to fill your house up with worthless consumer products!
    This obsession with home ownership can only be remedied by a proper capital gains tax on ownership of homes other than your residence, to level the investment playing field. Interest rates may come down sooner too then.

  18. lprent 18

    The only reason that I bothered to buy a place was because of Telecom and landlords cashing up.

    Had this little problem in the mid-90’s where I had quite a few phone lines including a couple of ISDN lines to get the kind of bandwidth I needed. ADSL was just starting to be talked about (and in a very expensive way). Then I had to move a couple of times mainly because of landlords. Each time cost a bundle to get the phone lines moved.

    There are quite a lot of hidden problems with renting. What I want to see is more of a lease based system where I can get a lease for say 5 years.

  19. ants 19

    The figures are actually too low for a lot of cases- once body corporate fees ($2500), property management fees ($2000+), accountant fees ($1500+) are taken into account.

    However, the flipside is the massive amount of tax that can be rebated.

  20. Draco TB 20

    Actually, if you put the extra $440.00 into an interest-bearing account, you will have about 1.7 million in 25 years.

    Nominal or Real interest rates? What was the interest rate you used? What is the chance that the interest rates will stay the same over the next 25 years?

    Basically, don’t expect to get any richer renting for the next 25 years over buying a house. And, as has already been said, people who own their own house tend to be happier and more productive than those renting.

  21. As long as you invest the difference between buying and renting you will be far more wealthy than if you just paid off a home.
    I mean, how many people had that plan – with the money tied up in real estate and will be retiring on falling house prices?
    It’s a lot easier to cut your losses when you have more liquid investments versus an illiquid family house or rental property at 4% gross yield lol.
    And how paying off a home with an 80% mortgage could possibly be construed as productive when that capital could be going into a business, farm or share investment is beyond me…

  22. Draco TB 22

    writeups:
    Things don’t stay the same. In the next 25 years interest rates will come down, house prices will drop in real terms and then they’ll probably reverse again. It’s probably not a great idea to buy a house ATM but that will change in the next few years. Rent now, buy when house prices are depressed and interest rates are low and in 25 years there’s a good chance that you will be better off than if you just tried to rent for the next 25 years.

  23. RedLogix 23

    First, the crazy tax laws that make owning a rental property so attractive (thereby increasing demand for entry level properties). I get benefits from owning a second home that I don’t get from owning my family home.

    The tax laws treat residential rental property EXACTLY the same as for all other business. If you think the law crazy for this purpose, then it is equally crazy for all other business purposes.

    The Americans addressed this issue years ago by making all mortgage interest costs tax deductable regardless if it was on your home of residence or not.

  24. RedLogix 24

    And how paying off a home with an 80% mortgage could possibly be construed as productive when that capital could be going into a business, farm or share investment is beyond me

    A little thing called risk.

  25. uk_kiwi 25

    The risk is very high in residential property investment, just ask anyone who bought a blue chip apartment!

    Seriously, anyone in their 50s/60s should have most of their savings in term deposits and government bonds. Anything else, you’re running the risk of having nothing to retire on.

  26. RedLogix 26

    The risk is very high in residential property investment, just ask anyone who bought a blue chip apartment!

    Blue Chip was not an investment, it was a scam pyramid scheme… a fact that should have been obvious to anyone who thought about it for more than 2 seconds.

    I agree that a balanced portfolio is sound practice, but even in this market… as soft as it is I made a $200k equity gain this week. Well it took me and my partner six months of careful planning and a lot hard work to do it, but it was still possible. No amount of term deposit or bonds will do that for you.

    It is of course just a paper gain. But if I keep the property long enough (and it is cash flow neutral at present) then I should eventually be in a position to cash it out… but that might be 10-20 years out.

    The fundamentals of the NZ property market are still sound. Demand will in the medium term exceed demand. More especially the demand for quality properties most definitely exceeds supply. Eventually the equity markets will hopefully rebalance themselves and the business cycle will start over again. (If it doesn’t then who cares? It’s Armageddon anyhow.)

  27. nick 27

    The calculation of whether it makes more economic sense to buy or rent involves lots of calculations involving the growth of house prices versus the interest one can earn on money saved through renting. Empirically, however, one would expect renting to make more sense from a purely fiscal perspective.

    The simple fact is that people prefer buying their own house, instead of renting, for at least two non-fiscal reasons that I can think of. One is that people like the security of owning their own home. They have an emotional investment in a particular house. The other is that a mortgage enforces fiscal discipline. It?s easy to talk of saving money in lieu of mortgage payments. But I think that many people are aware that if they weren?t forced to pay the money to the bank it would end up getting spent instead of saved.

    Since people like owning their own home, it increases the demand for houses. It also reduces the pool of renters, resulting in lower market rents. The upshot of this is that buying a house is relatively expensive and renting is relatively cheap. Thus I would be extraordinarily surprised if renting didn?t make more sense, purely in terms of a household?s bottom line.

    The security of owning a home is really a non-tangible asset. The price of this asset is the difference between the money saved by renting a home versus the money that would be spent paying off a mortgage. And I think if people value security, then it is perfectly rational for them to make the decision to purchase their own home.

  28. nick 28

    The calculation of whether it makes more economic sense to buy or rent involves lots of calculations involving the growth of house prices versus the interest one can earn on money saved through renting. Empirically, however, one would expect renting to make more sense from a purely fiscal perspective.

    The simple fact is that people prefer buying their own house, instead of renting, for at least two non-fiscal reasons that I can think of. One is that people like the security of owning their own home. They have an emotional investment in a particular house. The other is that a mortgage enforces fiscal discipline. It’s easy to talk of saving money in lieu of mortgage payments. But I think that many people are aware that if they weren’t forced to pay the money to the bank it would end up getting spent instead of saved.

    Since people like owning their own home, it increases the demand for houses. It also reduces the pool of renters, resulting in lower market rents. The upshot of this is that buying a house is relatively expensive and renting is relatively cheap. Thus I would be extraordinarily surprised if renting didn’t make more sense, purely in terms of a household’s bottom line.

    The security of owning a home is really a non-tangible asset. The price of this asset is the difference between the money saved by renting a home versus the money that would be spent paying off a mortgage. And I think if people value security, then it is perfectly rational for them to make the decision to purchase their own home.

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    Its our futureBy ScoopBlogPush
    2 days ago
  • Budget 2015: Media releases and tertiary education coverage
    We will update this page over the next few days with media releases and news stories on Budget 2015 and its effect on tertiary education and on employment. Radio NZ: Govt tightens education purse strings The Government is expecting fewer… ...
    2 days ago

  • How many victims missing out on protection?
    Hundreds of domestic abuse victims could be missing out on getting protection orders because they are unable to get legal aid, Labour’s Justice spokesperson Jacinda Ardern says.“In the last two years some 351 people who applied for legal aid for… ...
    1 hour ago
  • Government kicks hardworking whanau
    A major incentive to help young Kiwis and people on low incomes to start saving has been kicked out from under them with the National-led Government ramming through short-sighted legislation under Urgency today, Labour’s Maori Development Spokesperson Nanaia Mahuta says.… ...
    1 hour ago
  • Speculator tax political stunt gone wrong
    Bill English’s admission he doesn’t know whether National’s new speculator tax will have any effect shows last weekend’s announcement by the Prime Minister was a desperate political stunt, says Labour’s Housing spokesperson Phil Twyford. “This Government is so desperate to… ...
    5 hours ago
  • The value of parenting
    This week, as part of the Budget, the government introduced a bill to address child poverty. This bill will require parents receiving income support to look for part-time work once their youngest child is three years of age rather than… ...
    GreensBy Jan Logie MP
    8 hours ago
  • Another new tax, another broken promise
    National has unveiled yet another new tax in this budget – a rural broadband levy that will almost certainly result in an immediate price hike for internet and telephone connections across New Zealand, Labour’s ICT spokesperson Clare Curran said “The… ...
    1 day ago
  • Anniversary of Sri Lankan Tamil Massacre
    This is not going to be a happy story but if the Green Party of Aotearoa doesn’t want to know who else will? May 18th marks the anniversary of what is known as the ‘Mullivaikal massacre’ of Tamils in 2009 at… ...
    GreensBy Catherine Delahunty MP
    1 day ago
  • Labour MPs join youth to take part in 40 hour famine
    A team of Labour MPs took part in the 2015 World Vision 40 hour famine and we were told by World Vision and the young people, that it was the first time MPs had joined them and how appreciative they… ...
    1 day ago
  • Rodeo: ‘Family entertainment’ or animal abuse?
    Recently  TVNZ ran a story with confronting footage showing rodeo animals being punched, repeatedly shocked with electronic prods and having their tails violently twisted over their backs. It was clear that significant force was being used behind the scenes to make… ...
    GreensBy Mojo Mathers MP
    1 day ago
  • Budget puts the squeeze on police
    The Government has cut funding to the New Zealand police force in the latest Budget, says Labour’s Police spokesperson Kelvin Davis. “The reduction is a whopping $15.3 million that could put front line officers at risk. ...
    1 day ago
  • Crucial social services take another hit
    The Government looks set to slash half a million dollars of funding for critical social services, including Women’s Refuge and Barnados, says Labour’s Social Development spokesperson Carmel Sepuloni “Taking $500,000 from organisations aimed at improving the lives of vulnerable families… ...
    1 day ago
  • Saying it Loud on Climate in Christchurch
    The Government’s Christchurch consultation meeting on New Zealand’s emission targets was inspiring – not for what was in the Ministry for the Environment’s (MFE’s) defeatist video about the obstacles to changing to a low carbon future, but for what the… ...
    GreensBy Eugenie Sage MP
    1 day ago
  • Budget silent on small business
    The Government has completely ignored one of the most important sectors of the economy – small and medium-sized enterprises – in Budget 2015, Labour’s Small Business spokesperson Jacinda Ardern says. "A stunning 41 per cent of jobs were created by… ...
    1 day ago
  • Thank you John, it’s been bloody marvellous
    The departure of John Campbell is a blow to current affairs investigative journalism, Labour’s Broadcasting Spokesperson Clare Curran says. “Campbell Live stood out in its field. Its axing comes as local broadcasting in New Zealand remains in a state of… ...
    1 day ago
  • KiwiSaver cut shows no long-term plan
    National’s cutting of the KiwiSaver kickstart is incredibly short-term thinking, typical of a Budget that is woefully short on ideas to generate wealth and opportunity, Labour’s Finance spokesperson Grant Robertson says. “New Zealand’s savings rate is far too low. KiwiSaver… ...
    1 day ago
  • National hits the panic button for its 7th Budget
    National has hit the panic button for its 7th Budget in a desperate attempt to look like they’re taking action to reduce our shameful child poverty rates, but they are giving with one hand and taking with the other, Opposition… ...
    2 days ago
  • Panic and back-flips can’t hide twin deficits
    National’s token measures to fight fires they have left burning for seven long years can’t hide a Budget that is long on broken promises, short on vision and fails to reach surplus, says Labour’s Finance spokesperson Grant Robertson. “After being… ...
    2 days ago
  • Auckland land measure seven years too late
    National are so desperate to look like they are doing something about the Auckland housing crisis they have dusted off Labour’s 2008 inventory of government land available for housing and re-announced it, says Labour’s housing spokesperson Phil Twyford. “Despite National… ...
    2 days ago
  • Access to gender reassignment surgery essential
    I was frankly disgusted to hear the Minister for Health say that funding gender reassignment surgeries is a “nutty idea”. A recent study found that in New Zealand 1% of young people identified themselves as transgender, and 3% were unsure… ...
    GreensBy Jan Logie MP
    3 days ago
  • Global milk prices now lowest in 6 years
    The latest fall in the global dairy price has brought it to the lowest level in six years and shows there must be meaningful action in tomorrow’s Budget to diversify the economy, says Labour’s Finance spokesperson Grant Robertson. “Dairy prices… ...
    3 days ago
  • Big risks as CYF checks stopped
    Revelations that Child, Youth and Family is no longer assisting home-based early childhood educators by vetting potential employees should set alarm bells ringing, Labour Children’s spokesperson Jacinda Ardern says. “Doing away with an extra mechanism for checking potential new employees… ...
    4 days ago
  • Housing crisis about real people not numbers
    The Government’s continued failure to tackle the housing crisis is seeing thousands of vulnerable Kiwis being kept off social housing waiting lists, while others, who are on the list, are being forced to live in cars and garages, says Labour’s… ...
    4 days ago
  • Housing crisis about real people not numbers
    The Government’s continued failure to tackle the housing crisis is seeing thousands of vulnerable Kiwis being kept off social housing waiting lists, while others, who are on the list, are being forced to live in cars and garages, says Labour’s… ...
    4 days ago
  • State of origin
    Kiwis are increasingly concerned about the food they give their families. New Zealand consumers have the right to know where their food has come from, particularly when it involves animals, and should be able to expect our Government to label… ...
    GreensBy Steffan Browning MP
    4 days ago
  • Relationships Aotearoa
    It is disturbing that Relationships Aotearoa, a voluntary organisation set up in 1949 to help couples struggling with their relationships following the upheavals of World War II, may be forced to close, says Acting Spokesperson for the Voluntary and Community… ...
    4 days ago
  • An economy that is just working for some is an economy that is not working
    The National Party presents itself as a great manager of the economy, but if the economy is only working for some we really need to question that assertion. Alongside the perpetually elusive surplus, the levels of risk in our economy are… ...
    GreensBy Jan Logie MP
    4 days ago
  • An economy that is just working for some is an economy that is not working
    The National Party presents itself as a great manager of the economy, but if the economy is only working for some we really need to question that assertion. Alongside the perpetually elusive surplus, the levels of risk in our economy are… ...
    GreensBy Jan Logie MP
    4 days ago
  • House prices to a crack $1 million in 17 months
    The average Auckland home is on track to cost $1 million in 17 months’ time if nothing substantial is done to rein in soaring price rises, Labour’s Housing spokesperson Phil Twyford says. “Auckland’s house prices have skyrocketed 63 per cent… ...
    4 days ago
  • Vital support services can’t be left in lurch
    The National Government has big questions to answer about how a provider of services to thousands of vulnerable New Zealanders is set to fold, Labour’s Finance spokesperson Grant Robertson says. Relationships Aotearoa which provides support and counselling to families, individuals… ...
    5 days ago
  • Treasury and IRD on a capital gains tax
    Both the Treasury and IRD have been advising the National Government on the benefits of a capital gains tax. Documents released to the Green Party under an Official Information Act request show that John Key has been selective with the… ...
    GreensBy Russel Norman MP
    5 days ago
  • Charity legislation needs review
    It is unacceptable that the big corporate based charities claim  millions in annual income tax exemptions, while small community based and operated non-profit organisations  struggle to gain official charity status, Labour’s acting spokesperson for the Voluntary and Community Sector Louisa… ...
    5 days ago
  • John’s panic-Key response to housing crisis
    John Key needs to tell New Zealanders what caused his sudden change of heart that led to the Government’s scrambled and last-minute housing measures, Opposition Leader Andrew Little says. “The Prime Minister’s sudden rush of blood to his head followed… ...
    5 days ago
  • Keep our Assets Christchurch Campaign: An update
    I recently presented my submission to keep Christchurch Council assets at the Christchurch City Council’s public hearings on its 10 year plan on 13 May. The hearings are live-streamed and recorded so you can watch them on www.ccc.govt.nz. The Council’s… ...
    GreensBy Eugenie Sage MP
    5 days ago
  • John Key finally admits there’s a housing crisis
    John Key’s weak measures to rein in the astronomical profits property speculators are making are an admission – finally – that there is a housing crisis, Labour Leader Andrew Little says. “But yet again National is tinkering with the housing… ...
    6 days ago
  • Government stifles voices in CYFs review
    The Government’s exclusion of the Māori Women’s Welfare League in a panel on the future of CYFs is a cynical ploy to stifle views, says Labour’s Māori Development Spokesperson Nanaia Mahuta. “It's unbelievable that a significant review on the future… ...
    1 week ago
  • Speech to the Otago Chamber of Commerce
    Thank you very much for the opportunity to be here today. It’s a pleasure as always to be back in the town that raised me. Growing up in St Kilda meant that there was one thing that was a big… ...
    1 week ago
  • Key can’t just be Prime Minister for Parnell
    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In… ...
    1 week ago
  • Stop the conversions
    This week, some Waikato locals took me and intrepid photographer Amanda Rogers on a tour of some  lakes and waterways in their region, and up to the massive dairy conversions in the upper catchment of the Waikato River. It… ...
    GreensBy Catherine Delahunty MP
    1 week ago
  • More regional jobs go in Corrections reshape
    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka face closure… ...
    1 week ago
  • Government’s climate meetings off to a bumpy start
    On Wednesday, I attended a hui and an evening meeting that the Government had organised in Nelson as part of its climate change consultation tour, to support the Nelson community telling the Government to take meaningful action on climate change.… ...
    GreensBy Steffan Browning MP
    1 week ago
  • Taxpayers the only ones left feeling blue
    Ministry of Social Development bosses could have saved themselves thousands of dollars in consultants’ fees by providing staff with rose-tinted spectacles, Labour’s State Services spokesperson Kris Faafoi says. A report out today reveals the Ministry is spending over half a… ...
    1 week ago
  • Why are the regions still facing restrictions?
    Labour's Housing spokesperson Phil Twyford is questioning why the regions should continue to be saddled with LVR lending restrictions announced by the Reserve Bank today. “Labour has been calling for the regions to be exempted from LVRs for the best… ...
    1 week ago
  • The high costs of weak environmental regulation
    Te Waihora/Lake Ellesmere is described on the Department of Conservation website as “Canterbury’s largest and New Zealand’s fifth largest [lake], and an internationally important wildlife area.” But the lake is also polluted by nutrients leaching from farms in the catchment.… ...
    GreensBy Eugenie Sage MP
    1 week ago
  • Submissions to Wellington City Council on their Gambling Venues Policy
    Every three years Councils across the country are required to check that their gambling venue policies are still fit for purpose and they can choose to consult on their policy if they are thinking of making changes. Councils don’t have… ...
    GreensBy Denise Roche MP
    1 week ago
  • Reserve Bank action shows Govt out of touch and out of ideas
    The Reserve Bank’s unprecedented measures today show it understands the serious risks of the overheating housing market – in complete contrast to John Key’s refusal to acknowledge the crisis, Labour’s Finance spokesperson Grant Robertson says. “The Bank is right to… ...
    1 week ago
  • Send us your snaps: 25 Years of the Green Party
    This year we've hit a milestone. We're turning 25.To help celebrate a quarter of a century, please send us your photos from the last 25 years of the Green Party Aotearoa New Zealand! Note: Photos must be jpg, gif or… ...
    2 weeks ago
  • 25 Years of the Green Party
    This year the Green Party sends 25. To help us celebrate a quarter of a century please send us you photos of 25 years of the Green Party!Photos must be jpg,gif or png and smaller than 2MB. If you are… ...
    2 weeks ago
  • Bay growth plan too little too late
    Today’s Bay of Plenty growth study from MBIE is another example of Government spin - lots of talk but little action, says Labour’s Regional Development spokesperson David Cunliffe.  “This is a region that desperately needs to develop the downstream processing… ...
    2 weeks ago
  • Government bows to ACC pressure
     The Government has finally buckled to pressure from Labour and the New Zealand public in making a half billion dollar cut to ACC levies, but the full benefits are two years away,” says Opposition Leader Andrew Little.  “$500 million over… ...
    2 weeks ago
  • False figures cloud Auckland transport facts
    The Prime Minister should apologise and issue a correction after both he and Transport Minister Simon Bridges have been caught out misrepresenting facts on Auckland’s transport spending, Labour’s Housing spokesperson Phil Twyford says. "Both John Key and Simon Bridges have… ...
    2 weeks ago
  • Govt books confirm National can’t post surplus
    The last publication of the Government’s books before the budget shows National will break its promise of seven years and two election campaigns and fail to get the books in order, says Labour’s Finance Spokesperson Grant Robertson. “The Government is… ...
    2 weeks ago

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