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Statistics New Zealand has released new data on non-resident purchases of New Zealand homes, which reveals that demand has collapsed:
Home transfers to people who didn’t hold New Zealand citizenship or a resident visa fell over 80 percent in the March 2019 quarter compared with the same quarter a year ago, Stats NZ said today.
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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.