When houses are earning more than Kiwis, it is clear that the system is broken. New Zealand has seen record house price growth and a growing public housing waitlist, while income growth has lagged behind. We need to rebalance the system now.

Our vision:

Everyone deserves affordable housing, and it's clear that Labour and National are unable to deliver this.

TOP's policies will ensure housing is affordable for everyone, by increasing incomes and stabilising rents and house prices. We will also increase housing supply, particularly for those on lower incomes.

To achieve this, we will:

  • Introduce a land value tax of 0.75% - a small annual tax paid on the value of urban residential land.* 
  • Remove the current Bright Line Test and allow tax deductibility of interest for landlords, which is replaced by the land value tax.
  • Require a deposit of 100% of the value of an existing home when purchased for investment purposes.
  • Return the GST on new residential builds back to the local councils to fund further infrastructure development.
  • Establish a $3 billion development fund for Community Housing Associations with the goal of clearing the public housing waiting list within its first 3 years of operation.
  • Support more urban densification for central cities and transit nodes. Councils will be required to demonstrate that they have enough land zoned for new residential housing in line with the NPS-UD and MDRS.

* Commercial, rural, conservation and Māori land will be excluded from paying the land value tax. Superannuants could opt to defer payment until there is a change in ownership of the property. 

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