John Key will lead a National coalition administration for another 3 year term.
The electorate roundly rejected a compulsory WOF for all rental property, a capital gains tax and ring fencing of rental losses, as proposed by some political parties.
Pending a Cabinet reshuffle to John Key’s Ministry, it is likely that Nick Smith will retain the Cabinet responsibility for Housing. Accordingly, this means that it is largely business as usual for the Government in this area.
Two key issues to watch in the coming months include further developments on the WOF for state rental properties and changes to come with minimum requirements for seismic strengthening and building standards for multi-unit & 2 –storey rental housing. The Government will, as a priority, also push through its election promises around doubling KiwiSaver HomeStart deposit subsidies and withdrawal arrangements.
Elsewhere, it is expected that the following major opposition MPs will retain their housing spokesperson roles:
Labour – Phil Twyford
Greens – Jan Logie
NZFirst – Denis O’Rourke
All Parliamentary positions, including those on the important Social Services Select Committee and the Local Government Select Committee (dealing the Earthquake Building Bill) will be confirmed once the new Parliamentary session commences on 20 October.
Election results to be confirmed by 4 October (counting of special votes)
Cabinet to be sworn in early October
Parliament is expected to meet on 21 October