{"id":20605,"date":"2019-08-16T09:31:06","date_gmt":"2019-08-15T21:31:06","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=20605"},"modified":"2024-03-01T20:54:47","modified_gmt":"2024-03-01T07:54:47","slug":"nz-banned-foreign-ownership-just-over-a-year-ago-does-australia-need-to-follow-suit","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/nz-banned-foreign-ownership-just-over-a-year-ago-does-australia-need-to-follow-suit\/","title":{"rendered":"NZ banned foreign ownership just over a year ago. Does Australia need to follow suit?"},"content":{"rendered":"

 <\/p>\n

PHOTO:\u00a0Home ownership has reached historic lows in New Zealand.<\/p>\n

It\u2019s been just over a year since NZ banned foreign ownership of housing.<\/p>\n

With a market that largely parallels Australia\u2019s own in regards to laws, policies, affordability and availability problems, has the restriction on foreign investment actually worked when it comes to enabling first-home buyers and native New Zealanders to get a foothold in the residential market?<\/p>\n

Home ownership has reached historical low levels in New Zealand, with ownership the lowest it\u2019s been since 1951. Only a\u00a0quarter of adults under the age of 40 own their own home\u00a0now, compared to half in 1991.<\/p>\n

In the 2017-18 financial year,\u00a0immigration to New Zealand grew by 19 per cent\u00a0and with limited housing supply, Jacinda Ardern\u2019s Labour government was under pressure to introduce dramatic changes to housing policy.<\/p>\n

READ MORE VIA DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  PHOTO:\u00a0Home ownership has reached historic lows in New Zealand.Read More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":20606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478102683,478098512,478098521,478106668,478098726,478098562,478103696,478098519,478098535,478106669,478100514,478098861,478098513,478098873,478098579,478098510,478098514,478098511,478098509],"class_list":["entry","author-data123nz","post-20605","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auckland","tag-australia","tag-australians","tag-banned-foreign-ownership","tag-chinese-buyers","tag-foreign-buyers","tag-foreign-ownership","tag-home-ownership","tag-house-prices","tag-jacinda-ardern","tag-labour-government","tag-new-zealand","tag-property","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-news"],"yoast_head":"\nNZ banned foreign ownership just over a year ago. 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