Building consents ramped up A big focus for the Government is housing affordability and ensuring young New Zealanders are able to get themselves on the property ladder. There is no magic fix to slow house price inflation overnight which is why a raft of measures are being implemented to tackle the issue. One of the major causes of house price inflation is the historically low level of land available for building.
Reports on the number of building consents issued are positive and progress is being made. The number has really ballooned. In Auckland, more building consents were issued in the year to April 2014 than in any 12 month period since the year to February 2007. Auckland is on track to exceed its first year Housing Accord target by almost 1300 dwellings consented and sections created.
Budget 2014 Keeping government spending in check for the last five years is starting to pay off. This week the Budget was released and it reflects the improving situation across the economy. Forecasts show a $372 million surplus next year. What this means for New Zealanders is more jobs and higher incomes.
Over the past three years, the average wage has increased by $3,000 to $54,700 and based on the latest growth forecasts, it is expected to rise to $62,300 over the next four years. In the past year 84,000 more jobs were created and wages have been rising faster than inflation. New Zealand is in an enviable position but now is not the time to fall off the rails.
We are seeing dividends from keeping our heads and showing fiscal discipline. Advice on how much we can spend before interest rates are affected has been taken into account and we have kept within that limit. The Government was able to provide families with $500 million worth of support. Families are the backbone of this country and what is good for them is good for New Zealand. Here are just some of the wide ranging initiatives in this year’s budget.