Housing: Would you be better off under Labour or National?

Labour wants to ban foreign speculators from buying New Zealand homes and make property buyers who resell houses within five years pay tax on any capital gains earned – up from the current two years.

The party has set a highly ambitious target of building 100,000 affordable homes over 10 years, with 50 per cent of them in Auckland. Standalone houses in Auckland, the party says, will cost between $500,000 and $600,000 with apartments and townhouses under $500,000. Outside Auckland, houses will range from $300,000 to $500,000.