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

 


Inflated Property Market Targeted by NZ First

Inflated Property Market Targeted by NZ First

New Zealand First says news that foreign nationals are buying real estate to fast-track their visa applications makes it imperative for measures to be introduced to stop the practice and make housing more affordable for New Zealanders.

Emerging evidence also shows that the Auckland property boom, which is forcing Kiwis out of the market, is being fed by Hong Kong and Chinese investors, and Australian retirement funds buying investment properties.

Rt Hon Winston Peters says new policy is being developed to place restrictions on non-residents/non-citizens entering the New Zealand domestic housing market to fast track their visa applications.

“A lack of Government action has created a situation whereby rich people from big foreign economies are pumping up New Zealand property prices, making them too expensive from many Kiwis to afford.

“This must be stopped so first home buyers can enter a housing market which represents the domestic economy, not that of countries such as China, Hong Kong, and Australia.”

Mr Peters says the Government doesn’t even hold a register of domestic property owned by non-residents/non-citizens.

“That extent of the problem can’t be exactly quantified but it is likely to be huge.

“It isn’t helped by the Government’s failure to have a published long-term immigration strategy.

“This failure is acknowledged in correspondence from Immigration Minister Nathan Guy who also admits that immigration flows are likely to ‘bring challenges of social cohesion’.

“A prime example of a lack of social cohesion is Auckland’s property market which is being inflated by foreign nationals as part of their visa application process,” says Mr Peters.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On Andrew Little’s Debut, Mockingjay, And Drunk Texting

John Key’s credibility has taken a hammering this week – at least among the 50% of the electorate who have always had doubts about him on that score.

The other substantial story of the week has been about Andrew Little’s debut as Labour leader, which has received top marks, especially among the 25% of the electorate still voting Labour. According to some reports, the Labour caucus has been ‘in seventh heaven’ about Little’s success this week in taking it to the government in the House. More>>

ALSO:

 
 

Parliament Today:

Gordon Campbell: On Government Arrogance

Right now, National is ramming anti-terrorism measures through Parliament. This legislation will grant the SIS the power to carry out 48 hour bouts of surveillance on anyone without a warrant, and will bestow on government the power to unilaterally revoke anyone’s passports and thus deny them the freedom to travel. More>>

ALSO:

Glenn Inquiry: Report Offers Solutions To Family Violence

The People’s Blueprint unveiled today by Sir Owen Glenn’s independent inquiry into child abuse and domestic violence outlines a new, more cohesive and effective system for reducing New Zealand’s alarmingly high family violence rates. More>>

ALSO:

Environment Commissioner: Changing Climate And Rising Seas - Understanding The Science

A rising sea will be with us for a long time to come – one way or another we will have to adapt. But how high and how fast the water rises will be influenced by the speed at which the world – including New Zealand – reduces greenhouse gas emissions over the coming decades. More>>

ALSO:

Key Texts With Whale Oil Released: PM Can’t Be Trusted Over Dirty Politics Defence - Greens

John Key’s answers to questions about dirty politics can’t be trusted, after he was forced to admit that he had misled journalists and Parliament about contact with attack blogger Cameron Slater, said the Green Party today.. More>>

ALSO:

Temporary Release Crackdown Continues: Corrections Review Of Phillip Smith Case

“The review by Corrections’ Chief Custodial Officer reveals that the plan for Smith’s series of temporary releases was overly ambitious and misinformed. He’s a highly manipulative and deceptive person who although technically eligible, should not have been considered for temporary release." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news