Land sales to foreigners up 442%

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Fred99

13684 posts

Uber Geek

#205909 2-Dec-2016 10:32

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11758774

Foreigners' appetite for New Zealand land rose 442 per cent in the first 10 months of this year compared to the same time last year, official data shows.

Overseas Investment Office (OIO) revealed that from January to October last year, foreign entities got consent for deals involving 65,838 hectares gross of New Zealand land area. But in the same time this year, that rose to 357,318ha.

That's a headline which could encourage local "Trumpism" IMO.

wellygary

8312 posts

Uber Geek

#1681108 2-Dec-2016 10:55

And its a bollocks click baity one at that

Here is the link to the original Overseas Investment office data, they took it from

http://www.linz.govt.nz/regulatory/overseas-investment/decision-summaries-statistics/2016-10

This shows the *net* sales , ie from a NZer to a foreigner for the first 10 months being 21,732ha, which is DOWN from the 28,928ha the previous year,

The 357,318ha for 2016, ( compared to 65,838ha in 2015) they use is a *Gross* figure and includes land sold by one foreign owner to another, ( basically there were 2 large forestry sales from one overseas owner to another that made the figures jump in 2016)

Fred99

13684 posts

Uber Geek

#1681112 2-Dec-2016 11:04

wellygary:

And its a bollocks click baity one at that

Here is the link to the original Overseas Investment office data, they took it from

http://www.linz.govt.nz/regulatory/overseas-investment/decision-summaries-statistics/2016-10

This shows the *net* sales , ie from a NZer to a foreigner for the first 10 months being 21,732ha, which is DOWN from the 28,928ha the previous year,

The 357,318ha for 2016, ( compared to 65,838ha in 2015) they use is a *Gross* figure and includes land sold by one foreign owner to another, ( basically there were 2 large forestry sales from one overseas owner to another that made the figures jump in 2016)

Well spotted. Here's an image snip from your link. NZ Herald should be flayed for not fact-checking on what could be a sensitive issue.

sidefx

3711 posts

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Trusted

#1681118 2-Dec-2016 11:14

Fred99:

Here's an image snip from your link. NZ Herald should be flayed for not fact-checking on what could be a sensitive issue.

Why fact check when invented\sensationalist\false news is so profitable?

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Geektastic

17942 posts

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Lifetime subscriber

#1681145 2-Dec-2016 11:16

It's not as if Kiwis were queuing to buy most of that anyway, I expect. Also land ownership is usually cyclical - it will be back on the market and available for a NZ person to buy at some point. The foreign owner can't pick it up and take it away!

Why part of NZ thinks it should be reasonably unique in the world in this respect I am not sure; foreign ownership in the USA, UK and much of Europe for example is just a fact of life.

rmt38

320 posts

Ultimate Geek
Inactive user

#1681195 2-Dec-2016 11:33

sidefx:

Fred99:

Here's an image snip from your link. NZ Herald should be flayed for not fact-checking on what could be a sensitive issue.

Why fact check when invented\sensationalist\false news is so profitable?

This is the kind of quality journalism which the merger of Fairfax and NZME will maintain. Lol.