13 May 2014

Overseas buyers have no impact on house prices

11:11 am on 13 May 2014

Housing Minister Nick Smith says new information has confirmed that overseas investors buying houses in New Zealand are not having an effect on house prices.

For sale sign

Photo: PHOTO NZ (file)

Dr Smith said Inland Revenue has looked at its tax information to assesss the level of overseas ownership of houses and compared that with what happens in other countries.

He said the latest report backs advice from the Treasury and the Ministry of Business, Innovation and Employment that overseas buyers are not having any material impact on house prices.