More Foreigners Snap Up NZ Land; Need For Register Increases

More New Zealand land is disappearing into foreign ownership while the government turns a blind eye and is acting like a real estate agency, says New Zealand First Leader and Northland Member of Parliament Rt Hon Winston Peters.

“The latest list of sales approved by the Overseas Investment Office reveals 1,116.4ha of forestry land at Whangataura Bay, Port Underwood, in Marlborough; 55.896ha of orchard land at Puketapu, in Hawkes Bay; and 381.9ha of forestry land at Tutira, Hawke’s Bay, have gone to foreign buyers.

“Foreign ownership in New Zealand is acceptable as long as it works for New Zealanders and for the good of our economy but too often the balance is heavily weighted in favour of the overseas buyer.

“The sell-off of our land and businesses has accelerated under National who will not support New Zealand First’s Land Transfer (Foreign Ownership of Land Register) Amendment Bill.

“This bill would ensure a comprehensive register of all foreign-owned New Zealand land is compiled and made available to the general public and policy makers.

“If the government was open, honest and transparent they would welcome such a bill – the fact they don’t tells the New Zealand public the National Party doesn’t care how much of our land is sold off,” Mr Peters says.