Boom in home-buying accounts
I More than 12,000 homeownership accounts were in operation in New Zealand, either with the. Pofct trustee savings banks, obuilding societies, by the edti of the 1977 financiafryear.
There had been ah upsurge in the number of the accounts opened in the first few months of this year, according to the Minister of Housing (Mr Holland). Since December more than 400 new home ownership accounts had been opened at Post Offices alone, he said. “The more money that ,fs invested in these accom’N the more money is provided for lending as mortgage money. It is a sei/' perpetuating cycle.”
"It should not be more difficult to save for a home today than it was a generation or two ago. And the incentives for people to save today are, in fact, infinitely more attractive.”
One of these inducements was the home ownership savings account which had considerable interest and subsidy elements and therefore more than compensated for inflation, Mr Holland said. ■
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19770706.2.77
Bibliographic details
Press, 6 July 1977, Page 12
Word Count
164Boom in home-buying accounts Press, 6 July 1977, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in