Calls for controls on foreign home buyers

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Calls for controls on foreign home buyers

3News NZ

A ban on foreigner buyers is popular with voters

A ban on foreigner buyers is popular with voters

Almost two-thirds of voters want restrictions placed on foreigners buying property in order to bring house prices down, according to the latest 3 News Reid Research poll.

Of the 200 people at an auction on Auckland’s North Shore today about half were Asian. Three houses sold in 20 minutes, all to Asians.

If the bidders aren't New Zealand residents or citizens, if they are foreign buyers - the Greens would like restrictions placed on them.

They say it's not racist; it's about controlling house prices.

“Most New Zealanders are not racist. They understand that it is simply people from overseas that are driving up the price of property,” says party co-leader Russel Norman.

Two-thirds of voters agree with the Greens.

Asked, if to make houses more affordable the Government should put restrictions in place to stop foreigners from buying up investment properties here, 63 percent said yes, 30 percent no and the rest didn't know.

Under law, in Australia non-residents cannot buy established dwellings as investment properties. The Greens want a similar ban here - at least on investment properties - but the Prime Minister won't go there.

“I don't think foreigners buying the odd house in New Zealand is what's driving the escalation of prices,” says John Key.

“There's quite a big difference between Shania Twain wandering in and buying a big property in Queenstown and whether a young couple can buy a $350,000 house in Auckland,” he says.

So a ban on foreigner buyers is popular with voters. Australia is doing it too. And with housing affordability such a big issue, you can expect to hear much more about from our politicians here.

3 News

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Comments

7/03/2013 12:05:49 a.m.

katubaldy wrote:

Hey Mike, get outside more guy... housing prices and rents are already sky high, unless you think kiwis sleeping in their cars is a step in the right direction? And the NZD is through the roof as well so you shot yourself in the foot on that one..? How do you stop foreign home buyers from dominating the local market? Pass legislation to preclude them from doing so,like China,Aussie and any other country that looks after its own citizens first. You're ranting about what a Labour government would do in your own lil world, when National are already doing it in the real world. Explain how Bill English's stunt to freeze credit to kiwi home buyers is going to help the situation? Lowering the currency, makes it easier to sell kiwi products overseas. Higher demand creates higher productivity which consequently creates more jobs and gets people into the work force again...Here's what working class folks call 'real wages' Mike...wages you get when you've got a job bro. If you're unemployed, like more and more people are under this govt, then you can call the wages what you want,cos you still won't get any. Not sure why you try so hard to complicate things when its always best to KISS? So best not to mention, inflation has wavered between 2% and 4%, no matter what govt is in office for the last 12 years and went up to 4% in 2011. Or let loose the news that the deficit increased last year, under your Joe Key led govt while exports were declining...huh? Can give you the website if you want but its already kind of common knowledge, just saying..... That would only make your stories look silly so I won't say a word....(priceless).

6/03/2013 1:49:18 p.m.

Mike wrote:

We have some posters claim that foreigners holding their dollar lower so that buying NZ homes more affordable. The reality is a higher dollar makes NZ homes less attractive to foreign currency holders, and Labour want to lower our dolalr to make NZ homes cheaper for foreigners to buy! How will that add to inflation of house prices and rents?

Labour/Greens refuse to front on how their helping manufactures by lowering our dollar and real wages will push up house prices and rents and make our homes cheaper for foreigners to buy..

6/03/2013 12:59:13 p.m.

DeepRed wrote:

Let foreigners continue to buy houses, but - and this is a big 'but' - they should be levied with some form of stamp duty.

5/03/2013 10:27:31 a.m.

katubaldy wrote:

The problem isn't a racial one. The problem is National's policy on housing. The domestic NZ property market should be focused on local residents for home owners and not opening it up to immigrants, no matter where they come from. Just like most other govts who look out for their own electorate... if you're not always trying to make a quick buck as your foundational premise, its commonsense. If you're as cynical and underhanded as this govt, you roll out this obviously flawed type of policy.. National, constantly finding ways to crap on the NZ public.

2/03/2013 5:25:44 p.m.

Kiwi Vendor wrote:

@ Wesley Verhoeff Perhaps the Greens should top up in the difference in the bidding prices of a Kiwi resident and a non-citizen.....at least this will be fair to any Vendor.

2/03/2013 4:34:57 p.m.

@Andrew wrote:

If Europeans were the problem then the focus would be on them, but it is not. Kiwis are not allowed to buy houses in China/Asia so why should Chinese/Asian people be allowed to buy in NZ? Besides, the issue is residency, not ethnicity. As far as racism goes, what about racist Asians???? Plenty of them around. This is NZ and kiwis need to protect what's left of this country for our own use and not hand it all over to foreigners, particularly those with no cultural, linguistic or other link to the heritage of this country.

2/03/2013 12:09:48 p.m.

Andrew wrote:

So in Patrick Gower's eyes, all asian are deemed to be foreigners??? No matter they are citizens or residents??? All white European are deemed to be Kiwis, no mater they are not citizens or residents??? Is that all in your mind??? Don't be bias, asian new zealanders are not supposed to buy properties, only the white kiwis have the right??? Is that what you mean Mr Gower???

2/03/2013 10:54:36 a.m.

David wrote:

The Australian Russell Norman owns a NZ home, hypocritical maybe. He has a nasty anti Chinese streak, jumped up and down about the Crafar farms but has said ZIP about the Swedish purchase of dairy farms from Graeme Hart."give me back my flag" protest against the Chinese leader and now this latest crusade. The Greens inconsistencies get little scrutiny in the way Winston does.

2/03/2013 10:33:18 a.m.

Carlos wrote:

Move out of auckland, its a crap-hole anyway ?!

2/03/2013 1:41:38 a.m.

Vicki B wrote:

not racist just reality I am too old to be renting please NZ sort this out now!!