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

AMA: Scoop's 'Invisible Paywall'

Operation Chrysalis: The Final Countdown - Thanks & There's Still Time To Pledge

Phew! We are now counting down the hours to the end of this crowd-funding campaign at 11pm on Sunday. Thankyou to all those Scoop readers and supporters who have pledged already. You have been awesome. But this is not over yet. More>>

 
 

PARLIAMENT TODAY:

IPCA Reports: Significant Problems In Police Custody

In releasing two reports today, the Independent Police Conduct Authority has highlighted a number of significant problems with the way in which Police deal with people who are detained in Police cells. More>>

ALSO:

Inspector-General of Intelligence and Security: Inquiry Into GCSB Pacific Allegations

The complaints follow recent public allegations about GCSB activities. The complaints, and these public allegations, raise wider questions regarding the collection, retention and sharing of communications data. More>>

ALSO:

TPPA Investment Leak: "NZ Surrender To US" On Corporates Suing Governments

Professor Jane Kelsey: ‘As anticipated, the deal gives foreign investors from the TPPA countries special rights, and the power to sue the government in private offshore tribunals for massive damages if new laws, or even court decisions, significantly affected their bottom line’. More>>

ALSO:

Werewolf: The Myth Of Steven Joyce

Gordon Campbell: The myth of competence that’s been woven around Steven Joyce – the Key government’s “Minister of Everything” and “Mr Fixit” – has been disseminated from high-rises to hamlets, across the country... More>>

ALSO:

RMTU: No Public Submissions On International Government Procurement Deal

“The government is preparing to assent to the Government Procurement Agreement, a World Trade Organisation Treaty which opens up New Zealand Government contracts to foreign companies and closes the door on local businesses and their workers. However the Foreign Affairs, Defence and Trade Select Committee is refusing to take public submissions on the decision.” More>>

ALSO:

Gordon Campbell:
On Pacific Spying

So New Zealand spied on its friends and allies in the Pacific – and has not only been passing on the results to the NSA, but has apparently passed on the details of the Pacific’s relations with Taiwan to our other best friends, the Chinese. On the side, the Key government has also been using the security services to gauge the chances of Trade Minister Tim Groser landing the top job at the WTO... More>>

ALSO:

State Housing Transfer: Salvation Army Opts Out

The Salvation Army has decided against negotiating with Government for the transfer of Housing New Zealand stock.
More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news