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

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"Unlawful, Unjustified And Unreasonable": Report Into Urewera Raids Finds Police Acted Unlawfully

Independent Police Conduct Authority Chair Judge Sir David Carruthers said today that the decision by the then Commissioner of Police to undertake the operation in Ruatoki Valley and elsewhere on 15 October 2007 was reasonable and justified.

“However, the road blocks established by Police at Ruatoki and Taneatua were unlawful, unjustified and unreasonable... Police had no legal basis for stopping and searching vehicles or photographing drivers or passengers,” he said...

The report also showed that the detention of the occupants at five properties examined by the Authority was unlawful and unreasonable. More>>