Property-analysis company CoreLogic said that 45% of house purchases in New Zealand are now made by investors who already own a home, while another 28% are made by people moving from one property to another. Approximately 8% of purchases go to overseas-based cash buyers – primarily Australians, Chinese, and British – although most economists believe that foreign investment is currently too small to have a significant effect on property prices.
Property-analysis company CoreLogic said that 45% of house purchases in New Zealand are now made by investors who already own a home, while another 28% are made by people moving from one property to another. Approximately 8% of purchases go to overseas-based cash buyers – primarily Australians, Chinese, and British – although most economists believe that foreign investment is currently too small to have a significant effect on property prices.