PHOTO: 123RF – Central Auckland had a high percentage of foreign sales.
Statistics released this week on foreign ownership of New Zealand’s housing stock have left opinion divided on whether a ban on international buyers will have any impact.
The data, released yesterday, showed 3.3 per cent of house ownership transfers in the March quarter were to non-citizens or non-residents. That was up from 2.9 per cent in the December 2017 quarter.
“Though foreign transfers have increased, this is just as likely to be due to the looming ban than anything else as buyers move to buy before they’re cut out,” said Infometrics economist Brad Olsen.
The number of foreign buyers was higher in Auckland and Queenstown. In central Auckland suburbs of Parnell, Grafton, Herne Bay, Ponsonby, Westmere and the CBD ,almost 20 per cent of sales were to non-citzens and non-residents, but that only represented 85 sales of a total 225 in that area for the three months.
READ MORE: 3 per cent of NZ house sales to foreigners
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