House sale stats continue to mislead on foreign buyers, says Labour

Mon, 01 Aug 2016

By Pattrick Smellie Aug. 1 (BusinessDesk) - Statistics intended to allay concerns about the number of houses being bought by foreigners continue to show only about 3 percent of buyers are foreign tax residents, but the Labour Party insists the figures are misleading. Compiled by Land Information New Zealand, the figures for house sales between April and June this year show 60 percent were purchased by New Zealand tax residents, up from 50 percent in the statistic for January to March, in which a large number of buyers' tax residence could...

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