I'm no house owner but is the NZ idea of home owning really that strong? The world is moving to a flexible working regime, live in the city, more apartments, more moving to other cities to work, more renting, more investing in other areas (not just property).
I could see some merits in CGT. After all a doctor or a person who is very career driven invest in themselves are still taxed whereas the capital isn't taxed (like for houses). Now the talk of thinking about a republic. Banning foreign buyers. Taxing tourists? That is something one sees in Thailand right at the store where they have a english menu that is higher than the Thai menu. But this is gonna be done at the NZ govt level. Some kiwi's buy holiday homes overseas or in Australia right. Some Brits buy in France. Americans buy in Canada.