New Zealand bans house sales to non-resident foreigners

[PinzaC55]

If you won the lottery you could buy New Zealand

I've already got one.

 

[seaham ftm]

I may be way off beam here but the area of New Zealand is just slightly larger than that of the UK. The population of UK is about 65.6 million. The population of New Zealand is 4.6 million, and they say they have a problem. Am I missing something? have they not room for another 60 million or so people?

A lot of New Zealand is mountainous so hard to build towns and cities on tbf, I’d imagine it’s why a third of their population is inhabited in Auckland.

 

[LondonMackem]

There's a lot to be said for the idea since large swathes of London property are owned by non resident foreigners simply as an investment. I am not sure what the consequences of banning this would be except a decrease in property values. I can't see a Tory government doing that.

This

 

[Lambchops]

You could live there in rented property but that's all.

Or just move there and become resident

 

[shepherd88]

There's a lot to be said for the idea since large swathes of London property are owned by non resident foreigners simply as an investment. I am not sure what the consequences of banning this would be except a decrease in property values. I can't see a Tory government doing that.

At one point i don't think new builds were even been advertised in the UK, just in foreign markets were investors were buying off the plans. However I think this has stopped.

 

[Some Random Guy]

Cos poor people have money to buy houses, don't they.

Can someone explain supply and demand to this lad.

 

[box2box]

Again it isn’t about money, it’s about residential status and nationality.

What problem is it trying to fix ?

 

[kossoff]

I think it is a good idea that could be used in the UK. Just because it doesn't allow non-residents to buy doesn't prevent non-residents becoming residents and buying. Residency good for tax purposes as well as likely ensuring the house is occupied at least 50% of the year by the owner.

 

[Thackeray]

Not worth it. I'm after a property to own with private pool. I'll see what's on offer in Australia instead.

Aren't you the lad going on about how you can't afford a house in Sunderland?

Seems to me you've missed the nuances of this debate

 

[Brian Griffin]

At one point i don't think new builds were even been advertised in the UK, just in foreign markets were investors were buying off the plans. However I think this has stopped.

A fantastic entrant to the 'This never happened awards'...

 

[Slow joe]

Aren't you the lad going on about how you can't afford a house in Sunderland?

Seems to me you've missed the nuances of this debate

No.

 

[Thackeray]

No.

Ok

 

[Brian Griffin]

Can someone explain supply and demand to this lad.

Hmm. Let me see if I get this....

Not enough UK houses for UK residents?

Happy to for non residents to live in UK houses?

Not happy for non residents to own houses?

So, who is going to buy these houses then?

Because from what I can see, if we ban rich people from owning property, there will be no jobs for house builders.

Like I said at the beginning of this thread - it's fine to stop rich people making a living - but not poor people. Hypocrisy.

 

[Goldeneye]

The housing market in Auckland and the surrounding area is crazy. Even areas far out of the city are going up in price as the government are putting more money into infrastructure.
The influx of Asian and American money seems to be the main driver of price rises.
I was amazed how property auctions take place which seems to be the preferred method of sale over there.

 

[Mackem00]

Ban second home ownership first, or it has to be let out at local council set rates equivalent to a council/association run property

I've suggested this before and was called an idiot and a commie iirc.

 

[Frijj]

I've suggested this before and was called an idiot and a commie iirc.

Spitfire has just come out with a Corbyn policy as well.

 

[shepherd88]

A fantastic entrant to the 'This never happened awards'...

What didn't happen?

 

[Black Cat Gypsy]

Hmm. Let me see if I get this....

Not enough UK houses for UK residents?

Happy to for non residents to live in UK houses?

Not happy for non residents to own houses?

So, who is going to buy these houses then?

Because from what I can see, if we ban rich people from owning property, there will be no jobs for house builders.

Like I said at the beginning of this thread - it's fine to stop rich people making a living - but not poor people. Hypocrisy.

If house prices were affordable for poor people then that's one problem solved. Also it isn't about money. If non-residents are buying house and not using it than someone who can afford it misses out.

 

[Mackem00]

Spitfire has just come out with a Corbyn policy as well.

Genuinely missed that in the manifesto. Good to hear.

 

[Black Cat Gypsy]

Can someone explain supply and demand to this lad.

I think he likes to acted smarter than other people and play the man not the ball in this case @Frijj.

He was the same on the WeePhillie thread. He was desperate to suck him off.