KEY POINTS:
- What do you think? Send us Your Views on Labour's first-home policy.
Labour's KiwiBuild policy would build 100,000 new, affordable homes over 10 years and sell them at cost to first home buyers.
"Using the purchasing power of the Government and off-site building techniques we will be able to lower the cost of building a home," said Labour leader David Cunliffe. "This will enable Labour to sell a new two-bedroom terraced KiwiBuild home for around $360,000 in some parts of Auckland.
Labour would also tackle property speculation from non-residents by amending the Overseas Investment Act to close a loophole which made New Zealand an easy target for overseas speculators, Mr Cunliffe said.
New restrictions would be also applied on the purchase of residential property by non-residents so that they would only be granted permission to purchase a residential property if they intended to live here permanently of if the purchase added to the country's existing housing stock by buying a new home.
