53 per cent say drop in property values worth it for affordable housing: poll

New houses at the Hobsonville Point development. PHOTO/supplied
New houses at the Hobsonville Point development. PHOTO/supplied

More than three in four voters believe the Government should do more to make housing more affordable and half believe that should happen even if property values dropped, according to a poll.

In a ONE News Colmar Brunton poll, 53 per cent of respondents agreed the Government should take more action on affordable housing even if it reduced average property values.

That included 50 per cent of those polled who owned their own home as well as two thirds of those who rented.

A further 31 per cent said more should be done but only if it did not reduce property values while 11 per cent said the Government should not take any more action.

The poll coincided with average house prices in Auckland topping $1 million for the first time. Last week, the Government pushed through an extension to the Special Housing Areas legislation under urgency in Parliament as part of its bid to increase supply.

Unsurprisingly, support for a drop in house values was strongest among Labour and Green Party voters.

Green Party co-leader Metiria Turei recently called for a dramatic drop in house prices.

Finance Minister Bill English has recently cautioned first home buyers to have patience in case property prices dropped.

Prime Minister John Key has repeatedly refused to accept there is a housing "crisis" but last week said he would not be concerned if there was a small drop in house prices.

The poll of just over 1000 voters has a margin of error of +/- 3.1 per cent and was taken from 3-7 September.

- NZ Herald

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