Gap Fill - Home Buyers - Level 5


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   ban      citizens      citizens      crisis      decade      demand      easier      foreign      heat      houses      investments      ladder      land      overseas      position      prices      residential      rise      supply      this  
New Zealand has announced a on foreigners buying . It said the ban would begin in early 2018. The measure is to tackle the country's housing . For the past decades, overseas buyers have been buying houses as or for holiday homes. This has increased for homes, which has seen house prices . Prices have risen by more than 50 per cent in the last . New Zealanders are angry about the inflated they have to pay to buy a home. Many have simply been priced out of the market and cannot afford to get on the housing .

The government is determined to end investment increasing house prices. It wants to make it for Kiwis to buy their first home. It said: "We are stopping speculators buying houses and driving up prices. Kiwis should not be outbid like ." Overseas investors will still be able to buy . The government said the changes would not stop non- from buying land. It stated: "Our has always been that if you're adding to …then you will be able to build." It hopes the ban will "take some of the " out of the property market.

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