Softened foreign buyers ban will help increase housing numbers - expert

Morning Talk 20/06/2018
Photo: File.

The Government's changes on its overseas buyers' ban is a good thing, according to Newsroom Pro's Bernard Hickey.

Overseas investors will still be able to invest in properties, but can't occupy them.

The Government's new rules will exempt some multi-storey apartment buildings, and buyers from Singapore and Australia will still be able to buy property.

Mr Hickey said the move was absolutely the right thing to do.

"If you’re all about increasing the volume of houses going into the market, then that makes a lot of sense," he said.

We'll have a few more apartments in Auckland which is exactly what we need.

“There’s an enormous amount of capital out there in the world printed by central banks all round the world and it needs to come somewhere and it may as well go into help building New Zealand apartments in particular,” he said. 

Mr Hickey told RadioLIVE’s Mark Sainsbury that many new apartments house new migrants and international students.

“This is a good thing, and means we’ll have a few more apartments in Auckland which is exactly what we need.”

Listen to the full interview with Bernard Hickey above.

Morning Talk with Mark Sainsbury, 9am - 12pm Weekdays and streaming live on 'rova' channel 9 - available on Android and iPhone.