'Tenants on our own land'
'Tenants on our own land': New Zealand bans sale of homes to foreign buyers The Harbour & Suburbs of Auckland Law aims to boost housing affordability after prices in some areas rise by over 75% The New Zealand government has banned the sale of existing homes to foreign buyers, saying New Zealanders were sick of being “tenants in our own land”. Associate minister of finance David Parker said the ban would mean housing would become more affordable for locals, and supply would increase. “We think the market for New Zealand homes and farms should be set by New Zealand buyers, not overseas buyers,” said Parker in an interview with the Guardian. “That is to benefit New Zealanders who have their shoulder to the wheel of the New Zealand economy, pay tax here, have families here. We don’t think they should be outbid by wealthier people from overseas.” In a speech to parliament on Wednesday he said: “We should not be tenants in our own land.” Only a ...