Headlines here from earlier: NZ PM Ardern: Proposed ban on foreign house purchases to take effect in early 2018
- Prime Minister Jacinda Ardern will end foreign buying of existing houses by classifying them all as "sensitive" under the Overseas Investment Act.
- This would effectively ban foreign speculators without affecting the TPP or most free trade agreements, Ardern said.
- The effect of this change will be that non-residents will not be able to purchase existing homes in New Zealand - other than Australians and New Zealand citizens living overseas.
