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CHRIS GORMAN / STUFF
There were at least 321 sales in the Waitemata district in central Auckland, during the June quarter, which would likely be halted by the US. imminent ban on foreign buyers
New data show that during the June quarter, 22% of transfers – including sales and other property transfers – in the Waitemata neighborhood, in central Auckland , concerned persons who were not citizens or holders of a residence visa. This equates to 321 transfers and is up 19% in the March 2018 quarter.
"In downtown Auckland, more than one in five transfers were made overseas during last quarter, and only 45% Per cent of New Zealand citizens, "NZ Stats Property Statis
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The Overseas Investment Amendment Bill is becoming law, limiting the possibility for non-residents and non-citizens to buy residential properties in New Zealand.
78 per cent of home transfers involved at least one buyer who was a New Zealander citizen.
Another 8 percent had at least one resident visa holder. This is a relatively high proportion – 13,856 people arrived with this visa last year.
Gareth Kiernan says that the identification of a "foreign" buyer "is not simple. one hundred were people with a student visa or work visa, or no residence visa at all. These are the people who will be affected by the new ban.
The remaining 11% involved legal entities that could be owned by New Zealand or foreign buyers. It is unclear how many foreign buyers could have bought goods this way.
"The share of home transfers to foreigners increased from 3.3% last quarter to 2.8% this quarter," McKenzie said. "However, the number of home transfers abroad has risen from 1083 in the March 2018 quarter to 1116 in the June neighborhood."
Who buys our houses? Note: corporate entities may have foreign owners or kiwis
The total number of residential transfers in New Zealand increased to 39,627 in the June 2018 quarter.
Chief Infometrics forecaster Gareth Kiernan, said that a problem
"The category" non-citizen NZ / resident visa "is definitely the most accurate definition of a stranger because these are people who can not stay indefinitely in New Zealand, acquired residence is more difficult to assess since the speculative use of the New Zealand residence is a back door to entering Australia. "
He said that 89% of those who received residence in 2011/2012 were still in the country.years later, an 80 percent increase in retention from a decade earlier.
"If nearly 90 of the people who obtained the residen this remain five years or so, you would not want to deny this group the right to buy a house … Perhaps more of interest is the category "business". We have no idea what constitutes this group and how much it could be affected by the imminent ban. "
– Miscellanées
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Tags Auckland Buy buyers central Foreign homes
