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New Zealand’s recently appointed Labour-led coalition Government will today implement the first tranche of its demand-side housing reforms, introducing into parliament legislation to amend the Overseas Investment Act to ban overseas buyers from purchasing established housing. From Interest.co.nz:
… the Government says its move will ensure that house prices are set by New Zealand-based buyers, not international buyers.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.