Labour Party leader Jacinda Ardern makes her case for Saturday's election in an extended interview with Nine to Noon's Kathryn Ryan in Auckland.
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Ms Arden said her government would have to intervene in a failing housing market to lift home ownership rates to what they once were.
Lifting those rates would be a measure of success for her, she said.
Labour wants to build 100,000 affordable homes over 10 years, half of them in Auckland. Under its policy, standalone houses would cost between $500,000 and $600,000 and apartments and townhouses would be under $500,000. If an affordable home house is sold within five years, the seller would have to hand back any capital gain.
"When you look at the market in Auckland, and it's clear it's failed, that there is a need for some intervention," Ms Ardern said.
"The reason we've taken this intervention ... is because at the time that my parents bought their home in the 1970s we had the highest home ownership rates in the developed world.
"It is within our reach to get back to that place."