About 60% of New Zealanders own their own homes, down from roughly 75% in 1992.Clear data on foreign investment in New Zealand’s property market is hard to come by, but Land Information New Zealand suggests foreign buyers account for as little as 3% of total transactions. The biggest proportion of foreign buyers are registered in China.Related: 10 most expensive cities in 2017The new rules on foreign purchases won’t apply to land, or to properties that haven’t been built yet. They also don’t apply to foreign residents living in the country or Australians.Ahead of September’s election, Labour Party leader Ardern campaigned on a platform of making housing more affordable.Auckland is ranked as one of the world’s most unaffordable real estate markets.
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