Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Foreign Ownership of NZ Homes Needs New Regulations


Rt Hon Winston Peters

New Zealand First Leader
25 November 2012

Foreign Ownership of NZ Homes Needs New Regulations

New Zealand First is proposing a new policy to limit speculation in residential properties by foreigners and foreign companies unless they meet specific criteria.

Rt Hon Winston Peters says Auckland’s housing boom is fuelled by thousands of foreign investors buying properties and making housing unaffordable for many New Zealanders.

“We aim to introduce restrictions on non-residents/non-citizens entering the New Zealand domestic housing market.

“The aim is to prevent foreign investors buying up our properties and taking the rental profit and capital gains offshore.

“This pumps up property prices and effectively shuts the housing ownership door for many Kiwis.”

Mr Peters says there would be dispensations for people coming from countries in which New Zealanders can buy land under the same conditions as locals.

“Work is already underway to flesh out the bones of the proposed policy which will be taken to our next party convention to be ratified,” says Mr Peters.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Mt Eden Prison: Serco Inquiry Extended

A two month delay to the Government investigation into prison fight clubs shows the extent of problems within the Serco circus, says Labour’s Corrections spokesperson Kelvin Davis. More>>

ALSO:

Health And Safety: Late Addition Of National Security Provisions A Concern

The New Zealand Law Society has expressed its significant concerns at the last-minute addition to the Health and Safety Reform Bill of provisions for a closed material procedure for court proceedings where national security is involved. More>>

ALSO:

Rugby And Beer: World Cup Alcohol Bill Passes

ACT MP David Seymour’s Sale and Supply of Alcohol (Extended licensing hours during Rugby World Cup) Bill completed its third reading by 99 to 21... More>>

ALSO:

Gordon Campbell: On The Flag Campaign

So far, the public has treated the government’s flag campaign with something between disinterest and disdain. Most New Zealanders have instinctively seen through the marketing hype involved. More>>

Change For 2017: Local Govt To Decide On Easter Sunday Trading

The Government is to enable local communities, through councils, to decide whether retailers can open on Easter Sunday, Workplace Relations and Safety Minister Michael Woodhouse announced. More>>

ALSO:

(And Targets Worse Than Australia's): Foresters Abandoning Emissions Trading Scheme

The Government’s gutting of the Emissions Trading Scheme has caused foresters to leave and emissions to rise, says Labour’s Climate Change spokesperson Megan Woods. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news