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


Trends continue in latest property data

17 November 2016

Trends continue in latest property data

Land Information New Zealand’s (LINZ) latest figures on property transfers and tax residency show similar trends to previous reports. Released each quarter, the figures are gathered by LINZ for property tax purposes.

“These figures are not a register of foreign ownership. Instead they can tell us about the tax residency of buyers and sellers, and the level of transfers involving homes,” says LINZ Deputy Chief Executive Russell Turner.

Overall transfers

“Levels of property transfers involving overseas tax residents have remained consistent in these figures so far. Of the 53,991 total transfers over this time, 3 percent involved buyers with overseas tax residency – the same as in the first two quarters of the year.”

Of the remaining transfers over July-September:

• 60 percent of transfers involved buyers who have only New Zealand tax residency. This is the same as the April to June quarter. For the January to March quarter, it was 50 percent.

• 37 percent involved buyers who did not need to provide tax information – the majority of these were New Zealand citizens or residents who are buying their main home. This is the same as both previous quarters.

These figures include trusts and companies.

Transfers involving a home on the land

Mr Turner says that to help find out more about property transfers in New Zealand, buyers and sellers are also asked to provide information about their citizenship or visa status.

“This shows that for properties where there’s a home on the land, approximately 1029 transfers (2 percent) involved buyers who were not New Zealand citizens, residents nor held visas that allowed them to live here. Approximately 36756 (79%) involved buyers who were New Zealand citizens, residents or visa holders, and approximately 8916 (19%) involved trust companies or businesses.”

Read the latest report on property transfers and tax residency on the LINZ website.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Demise Of The Tokyo Olympics

As the Covid vaccines roll out around the world, the Tokyo Olympics are looming as a major test of when (and whether) something akin to global normality can return – to international travel, to global tourism, to professional sport and to mass gatherings of human beings. Currently though, it looks like a forlorn hope that Japan will be able to host the Olympics in late July. Herd immunity on any significant scale seems possible only by December 2021, at the earliest... More>>


Oranga Tamariki: Chief Executive Grainne Moss Steps Down

Controversial Oranga Tamariki chief executive Grainne Moss has decided to step down. More>>


USA: Prime Minister Congratulates President Joe Biden On His Inauguration

Prime Minister Jacinda Ardern has congratulated President Joe Biden on his inauguration as the 46th President of the United States of America. “I look forward to building a close relationship with President Biden and working with him on issues that matter ... More>>


New Zealand Government: Cook Islanders To Resume Travel To New Zealand

The Prime Minister of New Zealand Jacinda Ardern and the Prime Minister of the Cook Islands Mark Brown have announced passengers from the Cook Islands can resume quarantine-free travel into New Zealand from 21 January, enabling access to essential services such ... More>>


A New Year: No politicians at Rātana in 2021

Annual celebrations at Rātana pā will be different this year, amid a decision to hold an internal hui for church adherents only… More>>


Government: New Public Housing Plan Announced

RT HON JACINDA ARDERN HON DR MEGAN WOODS The Government has released its Public Housing Plan 2021-2024 which outlines the intention of where 8,000 additional public and transitional housing places announced in Budget 2020, will go. “The Government ... More>>

Government: Pre-Departure Testing Extended To All Passengers To New Zealand

To further protect New Zealand from COVID-19, the Government is extending pre-departure testing to all passengers to New Zealand except from Australia, Antarctica and most Pacific Islands, COVID-19 Response Minister Chris Hipkins said today. More>>


Covid: Border Exception for 1000 International Students

The Government has approved an exception class for 1000 international tertiary students, degree level and above, who began their study in New Zealand but were caught offshore when border restrictions began....More>>





InfoPages News Channels