Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Reserve Bank wrong on immigration

November 13, 2014

NZAMI MEDIA RELEASE

Reserve Bank wrong on immigration

The Reserve Bank has got it wrong on immigration being the main reason for house price inflation says the New Zealand Association for Migration and Investment (NZAMI).

NZAMI, New Zealand's leading professional association for immigration specialists, says the Reserve Bank statement regarding immigration having a big impact on house prices appears to lack an understanding that this is only one factor when looking at the total situation.

NZAMI chair June Ranson says Auckland Council has restricted housing developments for a number of years and it is only because Government has drawn serious attention to this, that things are starting to change.

“The number of building consents is still far too short of what is required,” she says.

“There has not been an increase in migrants, although there has been a net migration gain and this is in relation to a cycle aspect rather than a continued issue.

“New Zealanders are a very transient migrant population with approximately 20% of New Zealanders living offshore. The issue that is different now is that New Zealanders are not leaving.”

Ms Ranson says that Mr. Peters’ comments today fail to understand the makeup of the migrants coming into this country.

She says education institutions are actively seeking international students; also being sought are skilled migrants along with entrepreneurs and investors.

Government has a Resident Programme which is capped at between 45,000 - 50,000 per annum.

“This figure has not been reached. This programme is split between 30,000 skilled/business migrants, (which we need), 11,000 partners of New Zealanders, 5,000 family reunification migrants and 4,000 humanitarian migrants which includes refugees.

“So it is difficult to see where Mr. Peters would like to make cuts when the combined numbers of skilled migrants and partners of New Zealanders total some 41,000 there is not a lot left. Are we to stop family reunification and refugees?”

Ms Ranson says that apart from migrants, the other aspect to the housing market crisis in Auckland is speculative NZ buyers.

“Government should encourage IRD to ensure that any tax liability is being investigated. There are a lot of people buying a house now for selling next year for the profit gain.”

The NZAMI is made up of lawyers and licensed immigration advisers who must uphold professional standards and comply with the Association’s strict Code of Ethics. This Code requires them to uphold the integrity of the New Zealand immigration system and to respect the vulnerability of migrants at all times. For more information please see: www.nzami.co.nz.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Transport: International Arrivals In May Lowest In 61 Years

The number of people that arrived in New Zealand in May 2020 was the lowest for any month since May 1959, because of COVID-19-related border and travel restrictions, Stats NZ said today. There were 5,600 arrivals in May 2020 compared with 4,700 in ... More>>

ALSO:

It’s All In The Genomes: New Study Reveals Scale Of Havelock North Campylobacteriosis Outbreak

When the campylobacteria outbreak hit Havelock North in 2016, no-one fully understood how widely it affected the local communities. Gene-sequencing technology used by scientists has shown the true scale of the outbreak. The joint study from ESR, Massey ... More>>

ALSO:

Tiwai Point: Rio Tinto Announces Plans To Close Tiwai Point Smelter

Rio Tinto has just announced that it will wind down New Zealand Aluminium Smelters - the Tiwai Point smelter - saying the business is no longer viable. More>>

ALSO:

Freight: New Report On Auckland Port Relocation

The Government has released a major new report on the options for relocating the Port of Auckland’s freight operations while deferring any decision on the issue. More>>

ALSO:

Energy Sector: Meridian Spilled Water To Hike Electricity Prices - Authority Ruling

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million. More>>

ALSO:

XE Data Update: RBNZ Official Cash Rate Decision

The RBNZ will keep the Official Cash Rate (OCR) at 0.25%. T he key points in the RBNZ statement are: RBNZ keeps the OCR unchanged at 0.25% Maintain the LSAP (large scale asset purchase) at NZD$60 billion. Committee prepared to use additional monetary ... More>>

ALSO:

Electricity: Kiwis Ignore Promise Of Cheaper Power

Electric Kiwi and Flick Electric Co are joint winners of Canstar Blue’s award for Most Satisfied Customers | Electricity Providers From putting on an extra layer – rather than turning on a heater – to turning off lights and choosing the energy-saving ... More>>

ALSO:


ASB: Regional Economic Scoreboard Q1 2020

ASB NZ Regional Economic Scoreboard Gisborne still the place to be It has been Gisborne’s year, and the region comes out tops on our regional rankings for the fourth successive quarter. Like everywhere, question marks are about the COVID-19 impact on the future. ... More>>

RNZ: Economic Activity And Business Confidence Bouncing Back

Two surveys from ANZ show business confidence and economic activity have rebounded, but uncertainty about the future remains extreme. More>>

ALSO:

NIWA: The Climate Record That Keeps Getting Broken

Among the multitude of New Zealand climate statistics there is one record that continues to be broken month after month. Since January 2017 there has not been one month that recorded a below average nationwide temperature, according to NIWA’s seven station ... More>>

ALSO:

Govt: Extended Loan Scheme Keeps Business Afloat

Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year. The Small Business Cashflow Loan Scheme has already been extended once, to 24 July. Revenue and Small ... More>>

ALSO:

Science: 2019 Prime Minister’s Science Prizes Announced

The 2019 Prime Minister’s Science Prizes have been announced in a digital livestream event today. The Prizes recognise the impact of science on New Zealanders’ lives, celebrate the achievements of current scientists and encourage scientists of the ... More>>

ALSO:

Stardome Observatory: Young Kiwi Astro-Photographer Shoots For The Stars

Matariki by Josh Kirkley. The stars are aligning for up-and-coming Auckland-based astro-photographer Josh Kirkley (Kāi Tahu). During lockdown, one of his images was picked up by NASA and shared on the space agency’s Instagram to its 59.2 million ... More>>


DCANZ: Time For EU To Commit To A Level Playing Field For Trade

The Dairy Companies Association of New Zealand (DCANZ) has welcomed New Zealand Trade Minister David Parker’s statement that it is unacceptable for New Zealand exporters to continue facing an ‘unlevel playing field’ in the EU. Details leaked ... More>>

ALSO:

New Zealand Government: Supporting Kiwi Businesses To Resolve Rent Disputes

The Government will legislate to ensure businesses that suffered as a result of the COVID-19 response will get help to resolve disputes over commercial rent issues, Justice Minister Andrew Little announced today. More>>

ALSO: