Debate on Crown Entities, Public Organisations, and State Enterprises — Housing New Zealand Corporation

Thank you very much for this opportunity to outline where the Housing New Zealand Corporation is sitting at the moment and where we would like to see it go. Members might be interested in some interesting statistics. I know that the Minister in the chair, the Hon David Carter, certainly would be. At the moment the Housing New Zealand Corporation manages just over 69,000 houses. The majority are owned by it. A few are leased—not many, but roughly about 5 percent. As we increase the number of State houses—that is our commitment—we are buying, building, and leasing properties. We are tending to lease and build properties more than to buy existing properties, because we want to add to the housing stock in New Zealand. We are very, very keen to see the stimulus effects in the economy, and particularly in the construction sector, when we build. Of course, if people buy an existing house—the Housing New Zealand Corporation does that—there is no stimulus activity in the building sector. Members might be interested to know that when we lease houses, which the Housing New Zealand Corporation does, it tends to lease new-build houses. So we do not tend to lease those that are already in existence. We tend to go out and lease new builds. That also stimulates the economy and the construction sector. The flip side to it is that we get a new and modern home. Members may also be interested in the waiting list. From 1 November 2008 to today, 31 May 2010, we have seen an increase in the waiting list of just over 400.

Report noted.

The debate on the performance of the 2008-09 and current operations of Crown entities, public organisations, and State enterprises has therefore concluded. I will report the debate to the House.

Report adopted.