An own goal on affordable housing

The ODT reports:

Plans to tackle Queenstown’s lack of affordable housing have been partially scuppered by possible changes to the Overseas Investment Act.

Queenstown Lakes Community Housing Trust executive officer Julie Scott confirmed one foreign investor, who was prepared to finance 50 new apartments in Frankton, has pulled the pin on the transaction.

Well done the Government.

Queenstown Lakes District Mayor Jim Boult described the situation as “very frustrating”.

“Government is setting out to assist with affordable housing but at the same time they are pushing forward legislation that is actually harming our ability to do something about affordable housing.

This is the trouble with policy as soundbites.