While the Government tells Millennials and Gen Xers to go fuck themselves by allowing foreigners to continue to buy, manipulate and over inflate the apartment market, new information has come to light to suggest the offical stats claiming only 3% of foreigners are buying our domestic housing stock is total bullshit and the number could be as high as 21%
New research shows the number of non-New Zealanders buying New Zealand homes could be at least four times higher than official figures are suggesting.
ASB says this shows the Government’s ban on foreigners buying houses will have a “significant effect on the local property market.”
Last month, Statistics New Zealand released new figures showing that nationally, roughly 3% of all home sales were to overseas buyers over the March 2018 year.
The data included citizenship information or visa status of people transferring property, as well as information on their tax residency.
ASB Senior Economist Mark Smith says although the Stats NZ figures are accurate, they need to be broader when looking at overseas buyers.
“Once you take into account increased migration and offshore holdings from people using companies, it will be much larger than 3%.”
He says a further 8% of purchases were made by New Zealand visa holders, and 10% were purchased by corporate entities – the citizen status of which is unknown.
As such, he says anywhere from 11% to 21% of reported purchases involved a non-NZ citizen, over the March 2018 year.
Stats NZ figures were always rigged to hide the true extent of foreign speculation in our housing market. National’s much vaunted ‘rock star economy’ was simply a speculative housing market propped up by endless migration, and these ‘stats’ were window-dressing to pretend like National was responding to concerns.
This is a Public Sector that fuelled the meth hysteria, what these liars have to say about anything should be taken with a grain of salt.
We also see this under reporting and manipulation of stats in our suicide rates…
Number of suicides may be three times as high as recorded
The country’s suicide rate may be three times as high as official figures suggest.
The most recent statistics put New Zealand’s suicide rate at about 11 people a week, almost 570 in a full year.
But Timaru GP Dr Oliver Bourke told Fairfax Media coroners won’t rule a death as suicide unless it’s very clear the person intended taking their own life.
Dr Bourke said deaths will be classified in a different category, such as an accident, or the cause will go down as undetermined – what’s known as an “open verdict”.
…we have State Departments more focused on protecting their own arses by fiddling the stats than actually providing insight.
This Government must pass the laws to ban foreign ownership immediately so that we can finally get a domestic housing market where NZers are only competing against NZers for houses, rather than competing with the middle classes of nations 50 times our size.