Written By: - Date published: 10:03 am, July 30th, 2013 - 49 comments
Categories: capitalism, david shearer, democracy under attack, housing, john key, national, news, overseas investment, slippery, spin, you couldn't make this shit up - Tags: jonolism, Patrick Gower
An NZ Herald (anonymous) editorial, spells out the problem for Shearer in the way opponents of his policy will attempt to brand it as racist. For once the usually Nat leaning Herald exposes some of the Nat spin, albeit with some backhanders and hits against the left. The article begins by saying that any government proposing restrictions on “foreign investment in residential property” would be accused of racism. Then it focuses on Shearer’s announcement of such a policy:
Parties of the left are less vulnerable than the right to accusations of racism, if only because left-leaning parties make the accusation more fiercely. National calls this policy “xenophobic” but it is a charge Mr Shearer wears with ease.
He urgently needs a popular policy to call his own and this one will do him no harm.
Actually, it’s that people on the left are more sincerely opposed to racism.
The editorial argues:
To have his policy taken seriously, Mr Shearer first needs to show that foreign-domiciled buyers are a significant force in the housing market. The only available figures, obtained from a survey of agents by the BNZ and the Real Estate Institute, suggests non-residents account for around 9 per cent of sales. The agents say the largest number are Australians, who would be exempt from Labour’s ban.
The survey result is generally disbelieved. The agents may have under-reported the proportion of sales to overseas buyers, or many foreign buyers may have someone in their family resident here for at least part of the year.
It goes on to argue that it will be difficult to identify which property is purchased by overseas buyers who don’t reside in NZ. however, other countries manage such a policy.
However, a lot of the spin in the MSM focuses on Asian home buyers. Yet, the website that Jonolist award winner, Patrick Gower used to support such claims, targets South African buyers. It is NZ Property Connections website:
And, if the site’s images are anything to go by, the focus is certainly not on Black South African investors.
To be clear, if you can’t read the small print above, it says:
At NZ Property Connections we’re committed to helping South African investors maximise value from their Rand. By using our qualified network of professionals in both South Africa and New Zealand, South Africans looking to buy property in New Zealand will find the purchasing process simple and cost-effective.
Our vision – to create a safe, simple return on investment for South African real estate buyers in New Zealand.
Request a call back for more information.
And the website spells out why NZ is a good place for overseas buyers to invest in the property market:
Consider your priorities when looking for an investment. We all want something that’s going to make us money – preferably something that’s easy to invest in, with minimal stress and minimal input.
New Zealand ticks all these boxes and more.
Its currency is historically at a lower value than, for example, Australia. Its business environment is transparent and regulated. Growth in property value has been driven by solid demand rather than investor speculation. Rental returns are consistent and at a relatively high level making cash-flat investment yields viable.
Plus, it’s easy for South African investors to enter the market.
NZ Property Connections can help you extract your Rand from South Africa to put into the security of New Zealand property. Controversial political conditions, economic difficulties, a volatile currency and an uncertain future in South Africa are making more and more residents look off-shore for options for both investing and settling.
So why invest in New Zealand real estate? Here’s why
In Patrick Gower’s highly manipulative and slanted 3 News report last night, “NZ Property Connections” is shown on screen while Gower says:
Shearer wants to stop websites like this that advertise directly to foreign buyers.
So, what would be anti-Asian about preventing such marketing?
And how hard would it be to outlaw such promotions targeting non resident overseas property speculators?