Rt Hon Winston Peters

New Zealand First Leader

Member of Parliament for Northland
31 AUGUST 2016

Key’s Sell-Off of NZ Land Getting Out of Hand

The Key government’s sale of land to foreigners continues in overdrive as the latest information from the Overseas Investment Office (OIO) reveals, says New Zealand First Leader and Northland Member of Parliament Rt Hon Winston Peters.

“From January to July this year the amount of land sold to foreign buyers has almost tripled with 108,724 hectares being sold compared with 40,833ha during the same period last year.

“The three largest sales comprised Hong Kong buyers who paid $16.5 million for 2555.01ha at Braemar Rd, Lake Tekapo; an Australian investment company which bought 1341.31ha of Wairarapa land, and a couple listed from China who paid $8.5m for 1191.87ha of land at Stockerau Station, Whakatane.

“Three foreign buyers from Switzerland, Australia and Germany approved in July this year bought large properties at Waiheke Island, Taupo and Wanaka.

“For too long the National government has allowed the wholesale sell-off of New Zealand houses, land and businesses to foreign interests which is totally against New Zealand’s long term interests.

“New Zealand First will put a stop to sales of land and houses to non-residents,” Mr Peters says.

ENDS

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