Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Property Institute slams Labour Chinese investment claims

Property Institute slams Labour Chinese investment claims

Property Institute of New Zealand Chief Executive, Ashley Church, has slammed claims by Labour housing spokesman, Phil Twyford, calling them ‘reprehensible’ and ‘an exercise in unveiled racism’.

Earlier today Mr Twyford released figures to support his claim that people of Chinese descent accounted for 39.5% of the property transactions in Auckland between February and April.

However, Mr Church describes the data used by Mr Twyford as ‘shonky’ and says ‘it has so many holes in it that it would be marked with an ‘f’ if it was submitted as a High School Economics project’.

“Mr Twyford uses ‘asian sounding’ surnames as his means to identify which buyers are ‘Asian Investors’ - without any way of knowing whether the buyer is a New Zealand immigrant who lives here, or an investor based in China”.

“On that basis Mr Twyford should be blowing the whistle on Scottish foreign investment in this country - because a large number of kiwi homes are owned by people who have names starting with ‘Mc’ or ‘Mac’”.

“This is the sort of racist sideshow we’d expect from NZ First – not a serious political party with pretensions to hold the reins of power”.

Mr Church says that Mr Twyfords claims that the Auckland property market is being skewed by non-resident investors may prove to be correct – but he says that any action taken should be based on hard data and facts – and that the race of the buyer shouldn’t be a factor.

“We might be surprised to learn who the major investors really are. Work done by the Overseas Investment Office, in 2012, suggested that the biggest buyers were Americans, Brits, Canadians and Aussies – with the Chinese a long way behind”.

Mr Church says the Property Institute supports the recent move, by the Government, to create a foreign buyer register by requiring investors to have a New Zealand tax number.

“This will provide good, accurate, information and it will help us to determine whether we need to be taking steps to ban foreign investment in kiwi homes – or direct it into the construction of new houses, as is the case in Australia”.

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election