Less than 5% of homes being sold are to low deposit borrowers.
This is half of the govt stipulation, the banks are only too happy to comply.
http://www.nzherald.co.nz/business/n...ectid=11211035
In Hamilton, first home buyers would need $72,000 cash as a deposit. Unlikely anyone can meet that.
This hare-brained National policy will keep out first-time entrants in the property market, leaving it wide open for property investors, who have relatively low interest rates and pressure on rentals from high immigration at the moment. National are meanwhile selling off state houses and state power assets, the intention being to allow the top 2% to gather good private investment profits well into the future.
Tony Ryall is leaving, the subtitles imply he has built up his contacts and wants to get involved in the private sector. The partial sales of SOEs on his watch has apparently strengthened them and made them more efficient. No mention on how it will also cripple the govt income well into the future, and these assets are likely to be stripped at some point, so investors can make a windfall profit. They've done it with the railways before.
New soft rules for offshore drilling: many holes to be drilled with very little oversight and no public submissions. Just one of many changes National's backers want in the RMA.