Video: ‘This is a bill without principle, which will cynically blame foreigners’

The Overseas Investment Amendment Bill passed its third reading in Parliament earlier this week, sparking heavy disapproval and some support from some New Zealand politicians.

 
 

Real Estate Institute of New Zealand chief executive Bindi Norwell said: “We don’t believe that banning foreign buyers from purchasing property in New Zealand is going to have any impact on house prices, nor will it help young people into their first homes.

“Increasing the level of supply, speeding up the consenting process, creating consistency at councils around New Zealand and reducing LVR restrictions for first time buyers are all more appropriate measures that will help with affordability ahead of banning offshore investors.”

 

 
 

 
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