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High House Prices In Nz Due To Immigration

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Government policy has been to accept/target large numbers of Chinese on investment visas requiring NZ$ 10 mil. This is probably our economic plan post brexit

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The Reserve Bank has told the Government to review immigration policy in a bid to stem rising house prices.

The call comes days after Prime Minister John Key told the central bank to "just get on with it" and introduce immediate restrictions on rampant property investors as the average Auckland house value nears $1 million.

Lol, I thought they should both want property prices to rise. I think we are just so used to UK thinking. :blink:

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Had looked into the remote possibility of moving there, and because of the insane property prices vs wages, calculated I'd be about 30% worse off than staying in SE England, things truly are insane there.

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It diesn't say high house prices due to immigration, but is likely influenced by it and the apparent 'high' net migration is due ti returning kiwis presumably many fleeing Brexit.

You seem to have a bit of an agenda. I didn't say *solely* due and the article *is* about the effect of immigration on house prices. Immigrating Kiwis is still immigration and that particular comment you refer to is from the government response to the bank governor's statement. Your comment about Brexit makes no sense whatsoever.

In an unusually direct comment on immigration policy, Spencer told the Government to review the number of people moving to New Zealand, as the impact of high net migration on housing could not be ignored.

Record net migration was a key driver to surging housing demand, he warned. "Like taxation of investor-owned housing, migration policy is a complex and controversial issue," Spencer said.

"However, we cannot ignore that the 160,000 net inflow of permanent and long-term migrants over the last three years has generated an unprecedented increase in the population and a significant boost to housing demand."

The Government has previously ruled out changes to immigration levels, saying high net migration was strongly influenced by returning Kiwis and Kiwis choosing to stay.

Note the weasel words (from government defending their policy) . High net immigration is caused by unusually few Kiwis emigrating

Edited by Steppenpig

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