New Zealand Labour Party

Key is trading away New Zealand land and homes

John Key yesterday admitted what National dishonestly refused to confirm in Parliament last week – he is trading away New Zealand’s right to control who buys our homes and land, says Opposition leader Andrew Little.

“The Prime Minister must now answer the question: how will he protect our land under an agreement that he admits will stop a future New Zealand Government from banning non-resident foreign buyers?

“National is being disloyal to New Zealanders by refusing to fight to protect the sovereignty of our country and the Kiwi dream of home ownership.

“Home ownership is now the lowest in over 60 years and dropping. Our rural land is also under threat.

“Labour protected Kiwis under the China FTA, which allows bans on foreign buyers unless National trades that away under subsequent FTAs.

“Australia has banned foreign buyers of their homes. So has China in its largest cities. New Zealand should too.

“Non-resident foreign buyers, especially in Auckland, are fuelling housing demand that is pushing up prices to levels most New Zealanders cannot afford.

“Millions of young New Zealanders, and low and middle income groups of all ages, are increasingly tenants in their own country. Maori and Pasifika people are worst affected but Kiwis of all ethnicities are struggling to get into homes.

“Under Labour, if you have the right to live here you have the right to buy here, but not otherwise. Residency applies whether you’re a recent arrival or born here. Investment in new housing adds to supply and will be allowed.

“Enough is enough – New Zealanders must be able to control who owns our land,” says Andrew Little