Gisborne’s median house price drops to $570,000

Excellent news - hopefully house prices and building materials drop another 10-20% in the next couple of years, though that's unlikely with National's immoral tax break incentives for residential property investors. Taxpayers should provide a safety net of relief for first-home buyers who bought at the price peak, but the capital committed to rental properties as profit-making investments needs to be urgently reversed. The housing affordability crisis is a land price issue almost entirely driven by bad public policy and the greed of property investors. We need private capital invested in the productive sectors if the economy is going to have any chance, not increasing property portfolios and the associated yields from rents paid by those permanently locked out of home ownership. Thanks to these policies the landed class make ever more money at the expense of those who struggle every week to make ends meet. The housing system is broken and we just elected a Government very happy to keep it that way.