Did you know your house is now “sensitive” and you can’t sell it to whoever you want

Labour has made all houses “sensitive” meaning they have stripped away your right to sell your own house to the highest bidder.

Prime Minister Jacinda Ardern will end foreign buying of existing houses by classifying them all as “sensitive” under the Overseas Investment Act.

This “clean solution” would effectively ban foreign speculators without affecting the TPP or most free trade agreements, Ardern said.

Anyone who was not either a citizen or resident of New Zealand would not be allowed to purchase existing homes.

“The Government will introduce an amendment to the Overseas Investment Act to classify housing as ‘sensitive’ and introduce a residency test,” Ardern said in her first post-cabinet press conference.

“We stand strongly in the view that housing is a right.”

The effect of this change will be that non-residents will not be able to purchase existing homes in New Zealand – other than Australians and New Zealand citizens or permanent residents living overseas.

Ardern expected the legislation would be introduced by Christmas and passed in the new year.

Watch the housing market tank.

Helen Clark just loved the fact that Shania Twain bought a property here, same with James Cameron. Under these law changes they would not be able to buy their property and now they can’t sell their properties to other offshore buyers either.

 

-Fairfax


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story.  And when he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet.   Cam Slater doesn’t do quiet, and as a result he is a polarising, controversial but highly effective journalist that takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him.  But you can’t ignore him.

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