The new Government is promising big changes to the housing market, with Housing Minister Phil Twyford championing a number of new policies aimed at cooling the Kiwi housing market.
Mr Twyford is promising to make it easier for first time home buyers to get into the market, touting a ban on foreign buyers to help achieve this.
"There's no benefit to New Zealanders of allowing people that are not citizens or permanent residents of this country to be speculating on houses and driving prices higher and higher," Mr Twyford told 1 NEWS.
Under the coalition agreement the government's promising to track foreign ownership through a register so there's accurate data.
"Even a few per cent or as much as 10 or 15 per cent would make a significant difference to the demand pressures driving house prices up," Mr Twyford said.
Labour also wants to stop all investors, including Kiwis, from buying houses and quickly flicking them on.
Mr Twyford says a tax on those selling properties within two years will be extended to five years and will "make a difference" on the market.
Jacinda Ardern has said banning foreign buyers from buying into the existing market is a top priority of the new Government, so expect to see the new changes soon.
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