On one hand, the Labour party's solution is simple and clear: a capital gains tax on secondary homes to cool prices, a ban on foreign buyers to keep supply for Kiwis, and the state-funded building of 100,000 houses over 10 years.An election is coming and Housing Minister Nick Smith is well aware that housing policy is going to be one of its key battlegrounds. He calls it a clash between "sound bite versus substance".
On the other, you have the Government pulling various levers to help stimulate the market without embarking on a huge state-house building programme.
Smith says it's a complex issue.
"The political ground of housing next year is going to be between the sound bite and the substantial and I am confident that on the substantive issues - land supply, development contributions, materials, the compliance costs - the Government is going to have a solid story to tell.
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