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NZ Tax overseas buyers - Kiwi

Property Here - Thursday, June 20, 2013

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Some house buyers are backing calls to stop foreigners from ramping up Auckland's already heated market.

Jason Kerr, who resorted to a huge letterbox flyer drop to find a home, said New Zealand had it wrong, allowing non-residents to buy houses.

"Anyone who is an overseas investor should be hit with a tax, whether it's Australians, Chinese or English," Mr Kerr said.

After returning from England last month, the New Zealand-born father of two has been walking the streets till 11.30pm, distributing 1037 flyers pleading for people to sell him a Mt Albert or Sandringham house.

"We are ready to buy or willing to wait a while (up to six months) to secure a sale on the right house in the right location," it says.

The latest BNZ-Reinz Market Survey found 22 per cent of foreign buyers were Australian, followed by Chinese at 20 per cent.

Mr Kerr, a professional engineer who worked in England as a recruitment company director, said the sheer lack of houses on the market in Auckland was frustrating.

People tell him they would like to sell, but say they won't be able to find another place to buy.

He and his New Zealand-born partner are willing to put down a $400,000 to $500,000 deposit on a three to four-bedroom house, but hope to stay below $900,000 all up.

David Bayley of Bayleys Real Estate said a new 15 per cent property tax was introduced for overseas and corporate buyers in Hong Kong just before Christmas to cool home prices. Non-local and corporate buyers must pay a 15 per cent tax, he said.

Jason Kerr can be contacted at or telephone 021 083 80022.