Winston back on Fortress New Zealand high horse

Winston Peters is complaining about a big increase in the amount of land sold to foreigners and he’s vowing his New Zealand First party will stop it.

Mr Peters is citing Overseas Investment Office figures which show that between January and July this year 108,724ha was sold to non-residents compared with 40,833ha during the same period last year.

Mr Peters says the largest sales were 2555ha at Lake Tekapo which went to Hong Kong buyers, 1341ha of Wairarapa land sold to an Australian investment company and a 1191ha Whakatane station sold to a couple listed to be from China.

Three other foreign buyers from Switzerland, Australia and Germany were given approval in July to buy large properties at Waiheke Island, Taupo and Wanaka.

Mr Peters says the “wholesale sell-off” is totally against New Zealand’s interests.

“New Zealand First will put a stop to sales of land and houses to non-residents,” he said.

To be able to do that, NZ First will have to be part of the next government.

This is not an area where National is likely to compromise.  And Labour and the Greens will.

The reality of it is that our free trade agreements pretty much prevent us from pulling up the drawbridge.

Until Winston insists Fonterra sells all its overseas holdings, we can safely assume is harvesting votes, and doesn’t actually want to implement such policies.


– NZN, via Yahoo! News

  • Seriously?

    During the same time, how much NZ land was sold by overseas investors to NZ citizens? It is impossible to tell whether or not there is any basis for concern without knowing the net change. For all we know the amount of land owned be overseas investors subject to the OIO act has actually fallen.

    • And that is what a lot of people are missing, while the land remains attached to New Zealand it can always be bought back.

      • RightAtUni

        Or taken back by force if the situation requires…

    • Greg M

      Exactly. My recent purchase from an Aussie vendor had a delay to the settlement caused by him having to obtain an IRD number, just to sell it.

  • Michelle

    Saw the old codger standing outside his office yesterday in Dargaville’s main street smiling like a Cheshire cat and wondered what he was up to
    Edit to add word