NZ's new Government: NZ First chooses Labour

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tdgeek

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#1887839 22-Oct-2017 19:16

GV27:

tdgeek:

elpenguino:

Actually I would argue every house purchase by a foreigner takes a home away from a kiwi no matter the value. Even if johnny foreigner buys a house for x million it means that the wealthy kiwi who was outbid has to buy another one worth slightly less. Which once again means that slightly less valuable house is not available to buy so the person who would have bought that must buy the next one available - and so on.

It's simple economics. If that house is not 'replaced' with another the supply of houses has just been decreased by one.

If johnny foreigner makes a commitment to NZ in the form of living in that house, that's not so bad but keeping empty houses for speculation should be stamped out.

I agree. What I meant was a house that a foreigner wont buy, still rises, i.e.a more bottom range house. I feel that an immigrant should only be allowed to build. Maybe after 5 years they can buy, perhaps.

If Immigration is such a huge issue, then what will focusing the entire immigration housing spend on new builds do to land prices?

We get immigrants. Let's say 40,000 pa, that means we need to add 20,000 or less houses pa. Land needs to be made available. If I take your post as adversarial, and land prices will rise, causing new builds to rise, then its simple. We cannot afford any immigrants. Or we review the state of land prices, re direct resources where land prices are better and we have popular locations that are not AKL, or WLG or CHC.

Geektastic

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#1887920 22-Oct-2017 22:56

tdgeek:
Geektastic:
tdgeek:

Geektastic:

Fred99:

Geektastic:

It will be interesting to see whether legal challenges to enforce rights under free trade agreements which purportedly give many other nationalities property rights cause the whole thing to fade away.

It will be interesting all right.

From what I can see, with the exception of Chile and Aus, every other FTA partner has restrictions on foreigners - including NZers - owning and/or or profiting from the ownership of property.

I don't think FTA NZ is signed up with give special privilege to citizens from partner countries to own property here - because NZ is a free for all - at least for properties worth less than $10 million. Over $10 million and you need a rubber stamp from the OIO, or even better, if you've got the right connections and make a small donation, you get given a passport anyway.

It's also related to the land size. Our property is (sadly) not worth $10 million or even close but because it is over 5ha foreign buyers require OIO approval.

In the end we subdivided partly to get round the rule but this asinine idea of not selling to foreigners may further reduce our options unless we can find a reasonably remunerated NZ buyer.

It will also be interesting to see how they deal with public companies, whose shares may be held by thousands of foreigners and foreign funds....

Asinine? Why dont you look at buying land in China or other countries as your preferred investment? Or maybe a country where NZ$ buys naff all. When foreigners buy up large here, they pay naff all by their standards and get heaps, thereby locking out locals.

Because I'm not a broke parochial person who needs the government to make up for my inadequacy.

Neither am I, but they pay naff all by their standards and get heaps, thereby locking out locals. still applies. That inability to buy a house is an imported inadequacy.

You assume that they all bring capital. Many will earn it here like the rest.

The problem is we are too poor not that they are too rich.
I see no plan to do much about that far more relevant problem.

Aredwood

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#1887931 23-Oct-2017 01:24

tdgeek:

We get immigrants. Let's say 40,000 pa, that means we need to add 20,000 or less houses pa. Land needs to be made available. If I take your post as adversarial, and land prices will rise, causing new builds to rise, then its simple. We cannot afford any immigrants. Or we review the state of land prices, re direct resources where land prices are better and we have popular locations that are not AKL, or WLG or CHC.

Plenty of land available in Auckland. But virtually no land available in Auckland that is zoned urban residential. High urban land prices are purely an artificial construct caused by the Resource Management Act and silly council rules such as the rural / urban limit. There is lots of land in Albany, Cuthill, Greenhithe. That is zoned rural, But is actually lifestyle blocks - the worst form of urban sprawl. As well as lots of sections in existing urban areas that are technically big enough to be subdivided. But silly council rules mean that despite crazy high house prices, they are not economic to subdivide.

National has wanted to reform the RMA for ages. The Maori party could have driven some proper reforms, and fixed the housing problems - but they instead only advanced changes to give more powers to the corporate Iwi. And the Maori party wondered why they got consigned to the political scrap heap.

tdgeek

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#1887938 23-Oct-2017 07:43

Aredwood:

tdgeek:

We get immigrants. Let's say 40,000 pa, that means we need to add 20,000 or less houses pa. Land needs to be made available. If I take your post as adversarial, and land prices will rise, causing new builds to rise, then its simple. We cannot afford any immigrants. Or we review the state of land prices, re direct resources where land prices are better and we have popular locations that are not AKL, or WLG or CHC.

Plenty of land available in Auckland. But virtually no land available in Auckland that is zoned urban residential. High urban land prices are purely an artificial construct caused by the Resource Management Act and silly council rules such as the rural / urban limit. There is lots of land in Albany, Cuthill, Greenhithe. That is zoned rural, But is actually lifestyle blocks - the worst form of urban sprawl. As well as lots of sections in existing urban areas that are technically big enough to be subdivided. But silly council rules mean that despite crazy high house prices, they are not economic to subdivide.

National has wanted to reform the RMA for ages. The Maori party could have driven some proper reforms, and fixed the housing problems - but they instead only advanced changes to give more powers to the corporate Iwi. And the Maori party wondered why they got consigned to the political scrap heap.

If the RMA was fixed, councils pulled their head in, so it was economical to build, we will add more stock, easier to limit immigrants to build only for a set period, easier to subdivide. Its ridiculous and artificial.

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