11 MAY 2016

Data on Foreign Buying of Houses a Work of Fiction

John Key’s government must think New Zealanders are complete idiots on foreign buying of NZ houses, says New Zealand First Housing Spokesperson Denis O’Rourke.

“How dare the government release questionable figures, and try and say Aucklanders don’t know what they are talking about.

“The data released yesterday on who is buying housing is only for the first three months of the year. It was collected from a one-page questionnaire that has holes all through it, a description which also fits the government’s highly promoted requirement to have a NZ bank account and an IRD number.

“Even Land Information NZ and the Minister recognise the data is lightweight, but they put it out anyway.

“Foreign buyers backed off purchasing while they worked out how to use the IRD/account number rules and now they are back in the market.

“The government should listen to Aucklanders - they have been to the house auctions trying to buy and are frequently outbid by foreign buyers.

“National is putting up a smokescreen to hide the fact they have done nothing to reduce demand and to vastly increase supply of housing.

“Tinkering and asking foreigners to fill out pieces of paper will do nothing, but a ban on foreign buying will give Kiwi home buyers the chance they desperately need to get homes without unfair competition.

“New Zealand First also believes a proper register of foreign buyers is required. The Land Transfer (Foreign Ownership of Land Register) Amendment Bill is awaiting introduction into Parliament.”

ENDS

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