The Greens are expressing concern at the number of New Zealand houses being bought by people from overseas.

“The Government refuses to face up to the fact that its open-door policy on land sales is artificially inflating the price of properties, including residential housing,” Green Co-Leader Rod Donald said.

“It’s not just the family farm or the bach at the beach which is out of reach. First-home owners are now losing out to foreign investors.

“The Government keeps no record of foreign ownership of residential properties. But there is plenty of anecdotal evidence that overseas investors, particularly Australians, are buying up residential property at the low-end of the market.

“This is adding to the woes of first-home buyers who can’t compete against these cash-rich foreign investors.”