2023 Election and Real Estate

New Zealand Election 2023 and Real Estate: A Changing Landscape

As New Zealand gears up for its 2023 general election, the nation's real estate market stands at a crossroads. Over the past few years, the real estate sector has been a focal point of political debates and discussions, with affordability, housing shortages, and foreign investment being prominent issues. This article explores the connection between the upcoming election and the evolving landscape of real estate in New Zealand.

Affordability Crisis:

One of the most pressing concerns in New Zealand's real estate market has been the issue of affordability. Skyrocketing property prices in cities like Auckland and Wellington have left many Kiwis struggling to enter the housing market. As we approach the 2023 election, political parties are being called upon to address this crisis and propose solutions that can make homeownership more attainable for the average New Zealander.

Government Intervention:

The New Zealand government has already taken steps to curb rising property prices, including implementing stricter regulations on foreign buyers and introducing the "Brightline Test," which imposes a capital gains tax on properties sold within a certain timeframe. As the election nears, voters will be looking to see which parties are committed to further intervention in the real estate market to alleviate affordability issues.

Housing Shortages:

Another significant issue that intersects with the real estate market is the shortage of affordable housing. The demand for housing continues to outstrip supply, particularly in urban areas. This has resulted in overcrowding, rising rents, and a strain on social services. Political candidates must provide concrete plans to address these shortages and ensure that housing is not just a commodity but a basic human necessity.

Sustainability and Climate Change:

In recent years, there has been a growing awareness of the role real estate plays in climate change and environmental sustainability. Voters are increasingly concerned about the ecological impact of urban sprawl, the energy efficiency of homes, and the need for sustainable housing practices. Parties that prioritize environmentally friendly and energy-efficient housing solutions are likely to resonate with a significant portion of the electorate.

Infrastructure and Transportation:

The location and accessibility of housing are closely tied to transportation infrastructure. Improved public transportation, urban planning, and infrastructure investment can have a significant impact on the real estate market. Candidates need to address how they plan to enhance infrastructure to ensure that housing is not only affordable but also conveniently located for residents.

Conclusion:

The 2023 New Zealand election presents a critical juncture for the country's real estate sector. Voters are demanding action on affordability, housing shortages, sustainability, and infrastructure. The political parties that can provide practical and effective solutions to these challenges are likely to gain the support of a concerned electorate. As New Zealanders head to the polls, the future of the nation's real estate market hangs in the balance, waiting for policies that will shape it for years to come.

Look forwarding to seeing how the next two- three weeks play out.

Chat soon,

Jo