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Land sales to foreigners must end: Peters

NZ NewswireNZ Newswire 31/08/2016

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.

Opinion polls are showing it is in a strong position to hold the balance of power in next year's election.

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