Property News · September 17, 2018

New Zealand’s upcoming foreign buyer ban set to hurt housing prices, says Westpac


Auckland and Queenstown house prices will be hurt by the upcoming foreign buyer ban, Westpac says.
But just how great an impact the ban would have when it comes into effect in the next few weeks was hard to tell, said the bank’s chief economist Dominick Stephens.
He said some comparison could be made with Toronto in Canada where authorities imposed a stamp duty on foreign buyers that was so high it effectively worked like a ban.
“Toronto house prices fell around 5 per cent soon…

Source : South China Morning Post
Read more…New Zealand’s upcoming foreign buyer ban set to hurt housing prices, says Westpac

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