The government’s housing policy aims to skew the market in favour of first home buyers, who are currently locked out of the market by rapid price gains in recent years, says Housing Minister Nick Smith.
Speaking to Parliament’s social services select committee, Smith said initiatives to increase supply such as special housing zones and support including KiwiSaver’s home start subsidies were part of the package designed to favour first-home buyers largely ignored by private developers chasing more profitable returns from expensive sections of land.
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Housing Minister Nick Smith. Photo / Getty Image