National will have "more to say" on the foreign home-buyers ban "very, very shortly", party leader Christopher Luxon said this morning.
The National Party has previously opposed the housing market measure introduced by Labour.
The ban restricts foreign purchasers from buying existing homes, with some exceptions. It still allows Singaporeans and Australians to buy Kiwi homes and other nationalities can buy 60 per cent of apartments available in complexes with 20 units or more.
Asked on Breakfast whether National would scrap the ban, Luxon said: "We're gonna have more to say about all of that shortly."
He said the party was focused on building an economic plan that "gets our economy growing again".
Pressed on whether the ban helped with housing affordability, Luxon remained tight-lipped.
"House prices have continued to go up over the last six years under this government," he said.
"Rents have been going up, we've got more people in state houses. Housing has been a disaster under this government.
"Foreign investment is just a part of actually what we might need to do in terms of getting our economy growing again alongside other things as well, like education, like infrastructure, like technology."
But there should "always be restrictions in terms of foreign buyers of property in New Zealand", Luxon said.
"But more importantly, even broader foreign investment, and there always will be," he added.
Luxon said that he's not going to "get into it" regarding the foreign buyers ban today.
Asked when Kiwis can expect to find out where National stand on the ban, he said: "You'll find out very, very shortly."
Labour hit back
Labour Party spokesperson for overseas investment David Parker issued a statement on the issue this morning.
"The National Party is selling out young New Zealanders who are finally getting a foot on the property ladder and who will be straight to the back of the queue if National get elected," he said.
"Kiwi home buyers, especially first home buyers, will be the biggest losers from National's policy reversal.
"National are out of touch with the interests of New Zealanders by threatening to reverse a policy that is popular with Kiwis and is working. Labour believes New Zealanders should not be outbid by wealthy foreign buyers."
He said that a law change may be irreversible under New Zealand's international trade agreements.
"Whether it's a beautiful lakeside or oceanfront estate, or a modest suburban house, this law ensures that the market for our homes is set in New Zealand not on the international market," Parker said.
"National need to come clean on their plans to sell out New Zealand again.
"The foreign buyer ban is working. Now is not the time sell off New Zealanders' future."
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