Friday 25th May 2018
|Text too small?|
Statistics New Zealand will publish statistics on property transfers by all New Zealanders and overseas people from June 7, after taking over the task from Land Information New Zealand.
“As statistical releases are part of Stats NZ’s core business, we’ve worked with LINZ to take over their reporting on property transfers,” property statistics manager Melissa McKenzie said in a release.
LINZ has published quarterly property transfers and tax residency reports since 2016 in order to try and obtain a better picture of the housing market after growing concerns that foreign buyers were pushing up house prices. Its data, however, has consistently pointed to low numbers but it said from the outset the data is not a register of foreign ownership but reports the tax residence, citizenship and visa status of the property buyers and sellers.
Stats NZ said the data will now separate out property transfers to resident-visa holders. Previously these buyers and sellers were in the same category as New Zealand citizens. This additional detail will help provide a fuller picture of who is buying and selling property in New Zealand.
“Some new features of the Stats NZ releases will be the time series of the data, and details of home transfers by their location in New Zealand.”
The latest LINZ data show there were 45,381 property transfers registered from October to December 2017. In 3 percent of the transfers - or 1,599 transfers - at least one of the property buyers provided an overseas tax residency. That 3 percent has remained fairly stable since it began publishing.
No comments yet
NZ dollar treads water through Northern Hemisphere holidays
Air NZ to tweak 'cattle class', use machine-learning to target individualised fares
ComCom investigates BNZ over CCCFA disclosure breaches
Motor Trade Finance profit falls as Turners takes more business in-house
Air NZ profit warning follows plane upgrade announcements
Cooperative Bank profit drops 8.7% after cutting customer fees
Southbase makes shareholder support public
Evolve awash with red ink on goodwill writedown
Air NZ commits around $2B to buy eight new Boeing Dreamliner 10-series planes
Fisher & Paykel Healthcare tops $1 billion in FY revenue, upbeat about FY2020