The party has "more to say" on the issue, leader says
National Party leader Christopher Luxon said the party will have “more to say” on the foreign homebuyers ban “very, very, shortly.”
The housing market measure, which was introduced by Labour and has been previously opposed by National, restricts foreign purchasers from buying existing homes, with some exceptions. But it still permits Singaporeans and Australians to purchase Kiwi homes while other nationalities can buy 60% of apartments available in complexes with 20 units or more.
When asked whether National would scrap the ban, Luxon said, “We’re gonna have more to say about all of that shortly,” adding that building an economic plan that "gets our economy growing again” was a priority for the party, 1News reported.
Luxon remained tight-lipped, however, on whether the ban has helped with housing affordability.
“House prices have continued to go up over the last six years under this government,” he said. “Rents have been going up, we’ve got more people in state houses. Housing has been a disaster under this government.
“Foreign investment is just a part of actually what we might need to do in terms of getting our economy growing again alongside other things as well, like education, like infrastructure, like technology.”
But Luxon said there should “always be restrictions in terms of foreign buyers of property in New Zealand.”
“But more importantly, even broader foreign investment, and there always will be,” he said.
Luxon said Kiwis can expect to find out where National stand on the ban “very, very shortly."
Labour hits back
In a statement issued yesterday, David Parker, Labour Party spokesperson for overseas investment, said the National Party is “selling out young New Zealanders who are finally getting a foot on the property ladder and who will be straight to the back of the queue if National get elected.”
“Kiwi home buyers, especially first home buyers, will be the biggest losers from National's policy reversal,” Parker said. “National are out of touch with the interests of New Zealanders by threatening to reverse a policy that is popular with Kiwis and is working. Labour believes New Zealanders should not be outbid by wealthy foreign buyers.”
He said a law change may be irreversible under New Zealand’s international trade agreements.
“Whether it’s a beautiful lakeside or oceanfront estate, or a modest suburban house, this law ensures that the market for our homes is set in New Zealand not on the international market,” Parker told 1News.
“National need to come clean on their plans to sell out New Zealand again. The foreign buyer ban is working. Now is not the time [to] sell off New Zealanders’ future.”
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