New Zealand election 2026: How the parties differ on housing

Policy snapshot: 16 October 2026 · New Zealand-wide

New Zealand’s general election is on 7 November 2026. Housing policy divides the main parties on three questions: how much protection renters should receive, how the government should help people buy their first home, and how much tax and regulation should apply to property owners. The main parties vying to form New Zealand's next governmentPolicies for Party vote - NZ Election 2026

The central difference is that National and ACT emphasise making it easier for the private housing market to operate, while Labour and the Greens place greater emphasis on public housing and changing property-tax settings. New Zealand First and the Opportunity Party offer different approaches, including banking reform and land-value taxation. NZ election 2026: What every party plans for housing, rankedManifesto 2026Policies for Party vote - NZ Election 2026

The comparison below focuses on announced policies and campaign commitments available as of 16 October. It distinguishes specific new promises from policies that are already in place.

1. At a glance

Party	Renters	First-home buyers	Existing homeowners
National	Market-led approach; landlord-friendly tax settings	Expand access to 5% deposits	No new taxes; proposed loans for home energy upgrades
Labour	More social housing and changes to housing support	Housing supply and tax reform aimed at investors	28% capital gains tax on gains from July 2027, excluding the family home
Greens	Rent increases capped at 2%, stronger tenancy rights	Reverse landlord tax breaks; expand public housing	Higher taxes on wealth and property investment; family-home treatment differs from investment property
ACT	Reduce taxes and regulatory costs on rental providers	Increase supply by making building easier	Opposes capital gains and wealth taxes; favours lower tax rates
New Zealand First	Less emphasis on new renter protections in its headline housing proposals	No comparable new deposit commitment identified	Proposes buying back BNZ and merging it with Kiwibank
The Opportunity Party (TOP)	Citizen's Income intended to help with living costs, including rent	Land-value tax intended to change land prices and incentives	Proposes annual land-value tax, including on owner-occupied homes

Sources: Policy.nz's 2026 housing comparison, National, Labour, Greens, ACT, and the 2026 property-policy overview. Policies for Party vote - NZ Election 2026National is backing first home buyersLabour's 2026 Election PoliciesManifesto 2026ACT New ZealandNZ election 2026: What every party plans for housing, ranked

2. If you rent: what would change?

National

National's approach is to encourage private rental supply and reduce costs for landlords. It restored interest deductibility for residential investment properties and shortened the bright-line test. It has also supported more social and affordable rentals through targeted funding. Its argument is that a better-functioning housing market can put downward pressure on rents. NZ election 2026: What every party plans for housing, rankedFlexi Fund opens for social & affordable housing

Labour

Labour has promised at least 6,000 additional social housing places over four years, including $2.9 billion for Kāinga Ora to build state houses. It also proposes a 28% capital gains tax on future gains from investment properties, holiday homes and other covered property, excluding the family home. Its approach relies more on public housing provision and changing investment incentives than on a blanket rent cap. Release: Labour to get New Zealand building and Kiwis back to workNZ election 2026: What every party plans for housing, ranked

Green Party

The Greens propose the most explicit new rent protections among these parties:

• Cap annual rent increases at 2%.
• Restore protection against no-cause evictions.
• Introduce an independently enforced Rental Warrant of Fitness.
• Build tens of thousands of public homes and reverse landlord tax changes made by National.

These proposals aim to improve tenants' security and affordability directly, rather than relying primarily on market supply. Greens announce plan to end homelessness & fix housing crisisManifesto 2026

ACT

ACT argues that taxes on rental providers can increase costs for tenants. Its 14 October announcement proposes abolishing loss ring-fencing for residential rental properties, allowing qualifying rental losses to be offset against other taxable income. It also supports reducing barriers to building more homes. ACT New ZealandNZ election 2026: What every party plans for housing, ranked

What this means for renters: the Greens focus on limiting rent rises and improving tenancy security. Labour emphasises increasing the availability of social housing. National and ACT put greater weight on private rental supply and the costs landlords face. Actual rent outcomes would also depend on how these policies affect construction, investment and demand.

3. If you're trying to buy your first home

National: make a smaller deposit accessible to more people

National's specific new promise is to raise the income limit for the government-backed First Home Loan scheme to $300,000, allowing more eligible buyers to purchase with a 5% deposit instead of the usual 20%. This changes access to financing rather than directly reducing house prices. National is backing first home buyersNational is backing first home buyers

Labour: housing supply and investor tax reform

Labour's approach includes building more public housing and introducing a capital gains tax on future gains from investment property. The stated direction is to make housing less attractive as a speculative investment and increase the supply of homes. The tax would apply to gains accrued after 1 July 2027, not the entire historical increase in a property's value. NZ election 2026: What every party plans for housing, rankedRelease: Labour to get New Zealand building and Kiwis back to work

Greens: change the balance between homes and investment

The Greens want to reverse landlord tax breaks and expand public housing, arguing that investors should not receive tax advantages that make it harder for first-home buyers to compete. This is a broader structural approach rather than a new government-backed 5% deposit promise. Greens announce plan to end homelessness & fix housing crisisManifesto 2026

ACT: make construction easier

ACT's emphasis is on removing regulatory barriers and giving councils stronger financial incentives to approve housing. Its argument is that increasing supply and competition is the route to better affordability. NZ election 2026: What every party plans for housing, rankedConsultation launched on illustrative National Policy Direction

One important distinction: a lower deposit requirement can help you buy sooner, but it doesn't automatically make the home cheaper. It can also mean a larger mortgage and greater exposure to interest costs. By contrast, supply and tax reforms aim to change the wider market over time, with less certainty about how quickly individual buyers would benefit.

4. If you already own a home

This is where the parties' differences extend beyond housing construction to property taxes, investment returns and the cost of maintaining a home.

Party	Potential impact on existing homeowners
National	Has promised no new taxes and proposed a Home Energy Fund for loans for solar panels, batteries, heat pumps and insulation. Eligibility includes at least 20% equity, and loans would be attached to council rates. National pledges solar loans for homeowners, planning reformsNational is backing first home buyers
Labour	Would introduce a 28% capital gains tax on covered gains accruing from 1 July 2027. The family home would be excluded, but second homes and investment properties could be affected. NZ election 2026: What every party plans for housing, rankedLabour's 2026 Election Policies
Greens	Would reverse landlord interest-deductibility changes and restore the 10-year bright-line test. Its wider wealth-tax and property-tax programme also shifts more of the tax burden towards wealth. The family home and investment properties should be distinguished when assessing the details. NZ election 2026: What every party plans for housing, rankedManifesto 2026
ACT	Opposes capital gains and wealth taxes and favours lower top and trustee tax rates. This approach is intended to reduce tax costs for investors and higher-income households. NZ election 2026: What every party plans for housing, rankedACT New Zealand
New Zealand First	Its headline proposal is to buy back BNZ and merge it with Kiwibank. The effect on mortgage competition and rates would depend on how the merger worked in practice. NZ election 2026: What every party plans for housing, rankedThe main parties vying to form New Zealand's next government
TOP	Proposes a land-value tax of up to 1.75% annually on urban land, alongside a Citizen's Income of $19,400 a year. Unlike Labour's proposed capital gains tax, the land tax would apply to owner-occupied homes as well as investment properties. The income payment is intended to offset some of the overall burden. NZ election 2026: What every party plans for housing, rankedPolicies for Party vote - NZ Election 2026

A particularly important difference: capital gains tax versus land-value tax

These proposals would affect homeowners in different ways.

• Capital gains tax: Under Labour's proposal, someone who owns and lives in their family home would generally be exempt. Owners of covered investment properties could pay tax on gains realised after the proposed start date.
• Land-value tax: Under TOP's proposal, an owner could owe tax each year based on the value of the land, even without selling the property or making a profit. The proposed Citizen's Income would need to be considered alongside that liability.

The practical impact would vary substantially according to the value of the land, whether the property is an investment, how long it has been held and the details of each policy. TOP's proposal is a substantial change to the ongoing costs of ownership, rather than just the tax payable when selling. NZ election 2026: What every party plans for housing, rankedPolicies for Party vote - NZ Election 2026

5. Where does Te Pāti Māori fit?

Te Pāti Māori's published housing commitments focus on:

• Building and supporting more public and affordable homes.
• Making it easier to build homes on Māori and ancestral land.
• Tackling speculation and land banking, including action on vacant properties.

Its approach emphasises housing security, affordability and Māori-led solutions. Policy

Its published policy material should be checked for further detail on particular renter protections, first-home buyer assistance and homeowner taxes rather than assuming it has identical proposals to Labour or the Greens.

6. How to compare the policies for your own circumstances

The most useful comparison depends on which housing problem matters most to you.

For further checking, Policy.nz's 2026 election guide lets you compare parties on housing affordability, renting, housing quality and public housing. You can also read the parties' own policy pages linked above.

The key question to keep in mind is whether you want government to reduce your immediate housing costs, protect your security, help you buy a home, or change the underlying housing market. Those objectives overlap, but the parties differ significantly in how they would pursue them.