Treasury recommends relaxing of land controls
Monday 7 June 2004
A Treasury paper to Finance Minister Michael Cullen has recommended relaxing controls on the sale of non-coastal land worth more than $10 million to overseas investors.
By The LandlordThe paper also recommends that only company sales over $250 million be investigated, and that the Overseas Investment Commission be abolished in favour of Land Information New Zealand.
Dr Cullen confirmed he had received a paper containing the recommendations but said that did not mean they would be acted upon.
"(This) is about a Treasury paper which isn't even what is going to be going to cabinet when I finally finish having my discussions and drafting, which isn't yet," he said.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.