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Posted by on Jul 5, 2013 | 0 comments |

New Zealand Immigrants not responsible for housing crisis

New Zealand Immigrants are not responsible for housing crisisThe New Zealand Immigration Minister has stated that contrary to some claims immigrants are not responsible for the recent emergency situation with the housing in Auckland. According to some expert the recent increase in demand for houses has created and unprecedented crisis in supply for real estate in the largest city in New Zealand. The comments of the immigration minister come in the wake of some proposals on the part of the opposition Green Party which demand a tax to be imposed on non-resident who purchase properties in the country. The tax that should be levied is around 15% its purpose of such tax will be to cool down the booming property market.

According to the Immigration Minister Michael Woodhouse the nation needs new talent from abroad even while it’s (New Zealand) a migrant country, and it has at all times heavily depended on immigration. He further said that it’s really vital that individuals desist from being over concerned about what’s the migrants from Aisa are buying in the country, adding the housing issue is a supply side subject even as the administration is bringing-in certain modifications to deal with the same.

In addition to that the minister said that in the recent years New Zealand has experienced steady rise in immigration which. According to a recent data of the National Statistical Agency of New Zealand around seven percent of the non residents in the country possess their own property. Out of those 50% of the owners wished to land in the country before long. And of the remaining, there were as many non-residents disposing-off properties as there were purchasing them. He continued that given this he is not very positive if it’s really the right to claim that immigration is pushing-up the costs of properties across the nation.

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