Housing speculators

The blatant speculation going on with housing, particularly with property “flipping” in Auckland by foreigners as highlighted in the Herald, gives ordinary, hard-working New Zealanders who have lived and worked here all their lives no hope of being able to afford a house of their own (not just purchase but afford).

Housing should be a basic right for New Zealanders and should not be used as a non-taxed investment commodity.

Greater government incentives and intervention are needed to encourage more business and industry into regional centres and to encourage more of the population to shift to regional centres. Far too much of New Zealand’s population, both existing and incoming from overseas, is now concentrated in Auckland when most of the country is largely empty population wise. This has been the case since the economic reforms from 1984 on and is now reaching crisis point with record levels of homelessness and Auckland becoming one of the most expensive cities in the world to live in, as well as grappling with chronic traffic congestion.

Capital gains on property sales should be taxed as in most other countries and non-resident purchasing of property in New Zealand should not be allowed.

“Infill” housing should be stopped as Auckland’s infrastructure is struggling to cope, and immigration should be stopped until the country can sort out the housing and infrastructure crisis in Auckland.

R. Anderson, Pukekohe.