Hon Louise Upston

Minister for Land Information
1 August 2016 Media Statement

Latest property report shows similar trends

Newly released figures again show overseas tax resident buyers and sellers are behind three percent of New Zealand property transfers, Land Information Minister Louise Upston says.

Land Information New Zealand (LINZ) has released its latest report on tax residency and property transfers covering April to June 2016.

“Over this time the proportion of transfers involving overseas tax resident buyers is three percent, and the proportion of transfers involving overseas tax resident sellers is also three percent. This is similar to the previous quarter,” says Ms Upston.

“This data is not a register of foreign ownership – it is collected as a result of government property tax measures in Budget 2015. However, over time it will give us some useful information on the property market.

“To help with this, LINZ is also gathering data on transfers involving a home on the land, and the citizenship or visa status of buyers. This shows that three percent of transfers which included a home involved buyers who were not New Zealand citizens or residents.”

The report on property transfer and tax residency statistics is available on the LINZ website.

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