Category: Accommodation

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About 3 percent of home transfers go to overseas people – Stats NZ Media and Information Release: Property transfer statistics: June 2018 quarter

About 3 percent of home transfers go to overseas people – 27 July 2018

In the June 2018 quarter, 2.8 percent of home transfers were to people who didn’t hold New Zealand citizenship or resident visas, Stats NZ said today.

“The share of home transfers to overseas people fell from 3.3 percent last quarter to 2.8 percent this quarter,” property statistics manager Melissa McKenzie said.

“However, the number of home transfers to overseas people rose from 1,083 in the March 2018 quarter to 1,116 in the June quarter.”

The total number of home transfers in New Zealand increased to 39,627 in the June 2018 quarter.

In addition to the 2.8 percent of home transfers to ‘overseas people’, a further 8.0 percent of home transfers were to people who held a resident visa, meaning they were not New Zealand citizens but could live in New Zealand permanently.

“These could be people who have lived in New Zealand for many decades and chosen not to get citizenship, or they could be people who have only held a resident visa for a very short time,” Ms McKenzie said.

Eleven percent of transfers were to companies and other corporate entities. Information on the ownership of these corporates (by New Zealanders or overseas people) is not currently available.

“Over three-quarters (78 percent) of home transfers were to New Zealand citizens in the June quarter,” Ms McKenzie said.  

“We can say confidently that 2.8 percent of home transfers were to overseas people in the June quarter. However, it is less clear how many corporate buyers might have had overseas owners.”

See table 1 of Property transfer statistics: June 2018 quarter (Excel) for numbers and percentages of home transfers by affiliation.

Over 1 in 5 inner city Auckland home transfers to overseas people in June quarter

In central Auckland (Waitemata), home transfers to people who didn’t hold NZ citizenship or a resident visa reached 22 percent (321 transfers) in the June 2018 quarter. This compares with 19 percent (225 transfers) in the March 2018 quarter.

“In the Auckland inner city, over 1 in 5 home transfers were to overseas people in the latest quarter, and only 45 percent were to New Zealand citizens,” Ms McKenzie said.

The share of home transfers to people without NZ citizenship or resident visas fell for Auckland as a whole – to 6.5 percent (741 transfers) in the June 2018 quarter. This compares with 7.3 percent (678 transfers) in the March 2018 quarter.

Frequently asked questions

How many ‘foreigners’ are buying New Zealand homes?

It depends how you define ‘foreigner’. In the June 2018 quarter, of all home transfers:

  • 78 percent were to at least one New Zealand citizen.
  • A further 8.0 percent were to at least one NZ-resident-visa holder (someone who can live and work in New Zealand for as long as they like).
  • A further 2.8 percent were to people who held a student or work visa (1.0 percent), or were none of the above (1.8 percent).
  • The remaining 11 percent were to corporate entities only (which could have New Zealand or overseas owners).

When we talk about transfers to ‘overseas people’, we mean the 2.8 percent of transfers where none of the buyers were NZ citizens or resident-visa holders (excluding transfers where all the buyers were corporate entities). We focus on this measure because it aligns most closely with the definition of ‘overseas person’ in the Overseas Investment Act 2005.

Why do you talk about ‘transfers’ not ‘sales’?

A transfer is not the same as a sale. Transfers often involve a sale, but there are many other possible reasons for a transfer (such as marriage settlements, the death of a family member, boundary changes, and trustee changes).

Every sale is a transfer, but not every transfer is a sale. We refer to the parties involved as buyers and sellers for simplicity.

We know the number of transfers to overseas people because this information is collected on land transfer tax statements, which cover all types of transfer and not just sales.

How many of the corporate entities have ‘foreign’ owners?

Information on the ownership of corporate entities (by New Zealanders or overseas people) is not currently available, as it is not collected on land transfer tax statements.

How are trusts captured in these statistics?

We count a trust based on the visa or citizenship status of its trustees. If at least one trustee holds NZ citizenship, then the transfer is counted as a transfer to a NZ citizen.

Aren’t there lots of people missing from these numbers?

We have information about the visa status or citizenship of virtually all people who transfer property in New Zealand. The only uncertainty is around the ownership of corporate entities that transfer property.

In addition to statistics about the visa status or citizenship of people who transfer property, we also publish statistics about their tax residency. The tax residency statistics include a large category for parties that are exempt from stating their tax residency on a land transfer tax statement (eg because the transfer involves their main home). The visa and citizenship statistics are not affected by this exemption, because these people are still required to state their visa or citizenship status.

Tax residency is not the same as nationality. We advise focusing on the statistics about visa or citizenship status (also known as affiliation).

How much New Zealand property is owned by ‘foreigners’?

We do not currently have a register of property owned by overseas people. These property transfer statistics measure overseas involvement in property transfers in any given quarter, but not the total amount of property owned by overseas people.

What is the net change in ‘foreign’ ownership of New Zealand property?

We don’t produce a measure of the net change in property owned by overseas people.

If you subtract seller statistics from buyer statistics to calculate a net change in home ownership, it is important to note that:

  • between the time of buying and selling a home, owners can move between affiliations (eg a work-visa holder could become a resident-visa holder or NZ citizen)
  • some types of affiliations may sell many newly built homes (eg corporate entities).

Therefore, net changes for a given affiliation could be understated or overstated.

For media enquiries contact: Melissa McKenzie, Christchurch, 03 964 8439, info@stats.govt.nz

The Government Statistician authorises all statistics and data we publish.

For more information about these statistics:

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Visitor numbers retreat in June – Stats NZ Media and Information Release: International travel and migration: June 2018

Visitor numbers retreat in June – The number of visitors to New Zealand in June 2018 was 212,200, down 17,800 from June 2017, Stats NZ said today.

Visitor numbers were down this month compared with June last year, when New Zealand hosted the British and Irish Lions Rugby tour. Between 3 June and 8 July 2017, the Lions tour boosted visitor numbers from the United Kingdom and Ireland. Typically, New Zealand has between 6,000 and 7,000 visitors from Ireland and the UK each June, but this ballooned to about 23,400 last year.

In June 2018 compared with June 2017, the largest drops in visitor arrivals were from:

  • United Kingdom, down 15,700 to 5,900
  • Australia, down 7,100 to 98,800
  • Ireland, down 1,200 to 600.

The total number of visitors in June 2018 is still higher than the 196,200 visitors two years ago.

Annually, visitor numbers continue to increase.

There were 3.79 million arrivals for the year ended June 2018, up 138,700 (3.8 percent) from the year ended June 2017.

Boost in visitors from Asia

A boost of 12 percent in visitor arrivals from Asia helped offset the fall in arrivals from other countries.

Compared with June last year, Asia was the only region to see a rise in visitor arrivals to New Zealand this month. The largest increases in visitor arrivals from Asia were:

  • Indonesia, up 1,900 (37 percent)
  • China, up 1,200 (7 percent)
  • Malaysia, up 800 (24 percent).

Kiwis take more overseas holidays

Asia also experienced strong growth as a tourist destination for New Zealanders, along with Fiji and Australia. For June 2018 compared with June 2017, the largest increases in departures for overseas holidays were to:

  • Fiji, up 5,900 (34 percent)
  • Australia, up 2,500 (3 percent)
  • China, up 2,500 (26 percent)
  • Indonesia, up 2,300 (39 percent).

Overall, 288,500 Kiwis travelled overseas in June 2018, with 100,600 visiting Australia. Other popular destinations were (by number of departures):

  • Fiji, 23,200
  • United States, 21,900
  • United Kingdom, 17,700.

More detailed information on visitor arrivals including age, length of stay, and country of citizenship can be found in International visitor arrivals to New Zealand: June 2018 to be published on 24 July at 10:45am.

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Housing costs lead annual 1.5 percent inflation – Stats NZ Media and Information Release: Consumers price index: June 2018 quarter

Housing costs lead annual 1.5 percent inflation – 17 July 2018

The consumers price index (CPI) inflation rate was 1.5 percent in the June 2018 year, mainly influenced by higher prices for housing, Stats NZ said today. This follows a 1.1 percent annual inflation rate in the March 2018 year.

For the June 2018 quarter, the inflation rate was 0.4 percent.

The largest contributor to inflation was higher prices for housing and household utilities, up 0.9 percent this quarter, and 3.1 percent in the year to June 2018.

Regions catching up in construction costs

In the June 2018 quarter, construction prices in Auckland and Wellington rose 0.6 percent and 0.7 percent, respectively. For the rest of the North Island, prices were up 1.2 percent – twice as high as the major centres.

Housing-related costs:

  • rents rose 0.8 percent in the June 2018 quarter and 2.5 percent in the year
  • construction of new dwellings (excluding land) rose 1.1 percent this quarter and 3.9 percent in the year
  • electricity prices rose 1.7 this quarter and 2.9 percent in the year.

“New Zealanders are paying more to keep their homes running,” prices senior manager Paul Pascoe said.

“Rates, property maintenance services, and home insurance are all higher than they were this time last year.”

Higher premiums, fire service, and earthquake levies across the year all contributed to an 18 percent increase in dwelling insurance in the June 2018 year.

Petrol prices up, but cheaper home entertainment

Petrol prices rose 3.2 percent in the June 2018 quarter, but this was countered by lower prices for used cars and home entertainment. Used car prices fell 3.3 percent, while subscriber TV and audio-visual equipment fell 7.2 percent and 15 percent, respectively.

“It was cheaper to buy a used car this quarter as dealerships looked to move some stock, but that was offset by higher running costs,” Mr Pascoe said.

“With implementation of the regional fuel tax on 1 July, Auckland consumers will experience higher prices next quarter.”

The national average price for a litre of 91 octane reached $2.06 in June 2018, with price movements varying across the regions. Wellington and the South Island had significantly higher inflation than Auckland and the rest of the North Island.

Home entertainment prices fell in the June 2018 quarter, with better value audio-visual equipment and lower prices for subscriber TV.

“Subscriber TV is in the top 25 largest items in the CPI, and includes pay TV and streaming services,” Mr Pascoe said.

“Sky TV’s recent changes to their packages and pricing influenced this quarter’s result.”

According to Sky TV’s 2017 annual report they had 778,776 subscribers in December 2017.

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Guest nights up 1.6 percent in May – Stats NZ Media and Information Release: Accommodation survey: May 2018

Guest nights up 1.6 percent in May – 11 July 2018

Over 2.5 million nights were spent in commercial accommodation in May 2018, Stats NZ said today. This number is up 1.6 percent from May 2017.

“This month’s increase builds on the stronger guest night growth we saw last May, when it rose 7.3 percent from May 2016,” accommodation statistics manager Melissa McKenzie said.

“May is typically one of the quieter months for accommodation providers, as we head into cooler months,” Ms McKenzie said. “This contrasts with the summer peak, when nearly twice as many guest nights are spent in commercial accommodation.”

The growth in total guest nights was driven by more domestic guest nights spent in accommodation across New Zealand, and more international guest nights in the South Island. Together these increases offset a fall in international guest nights in the North Island.

The accommodation survey collects data for guests staying in short-term commercial accommodation such as hotels, motels, backpackers, and holiday parks. Hosted and private accommodation, such as bed and breakfasts and holiday homes, are excluded.

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Stats NZ Information Release – Dwelling and household estimates: June 2018 quarter

Dwelling and household estimates: June 2018 quarter – 6 July 2018 – Dwelling and household estimates provide estimates of all private dwellings in New Zealand at a given date, and estimates of all households usually living in New Zealand at a given date. See Dwelling and household estimates: June 2018 quarter on our website or download the attached Excel.
For more information about these statistics:

                               Tables (Excel)      

 (See attached file: dwelling-household-estimates-june-2018-quarter-tables.xlsx)

dwelling-household-estimates-june-2018-quarter-tables.xlsx
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Rising property prices boost household assets – Stats NZ Media and Information Release: National accounts (change in assets): 2008–16

Rising property prices boost household assets – Rising property prices from 2013 to 2016 boosted the New Zealand household sector’s assets by $184 billion, Stats NZ said today. The sector’s net worth reached $1,312 billion in March 2016.

The growth in property values over the four years contributed 51 percent of the $364 billion rise in household net worth over this period. In comparison, household property values rose $1.5 billion over the five years from 2008 to 2012.

When properties are bought and sold, the prices paid establish new market valuations for all properties, not just the ones bought and sold. This has a general effect on property values for all property-owning households.

From 2013 to 2016, the household sector borrowed additional loans of $36 billion. During the same period, households deposited an extra $45 billion at banks, but they withdrew $6 billion from their equity and investment fund asset holdings.

“From 2008 to 2016 households lent more than they borrowed,” national accounts senior manager Gary Dunnet said.

Within the economy, some sectors have an overall requirement for more financial resources than they generate; other sectors are net lenders, and are a source of funds to the net borrowers.

Businesses generate the main demand for financial resources. Incorporated non-financial enterprises were the largest net borrowers from 2008 to 2016. Unincorporated enterprises were also net borrowers. Central government also ran budget deficits over much of this period.

The main funding sources for 2008 to 2016 were overseas lenders, households, investment funds, and the EQC and ACC schemes that are administered by central government. Pension funds were not significant lenders in their own right, but they provided resources to investment funds.

“These are some of the results from this first release of provisional accumulation accounts for New Zealand,” Mr Dunnet said.

“This set of statistics adds to the suite of integrated national accounts statistics for the country.”

The accumulation accounts record changes in the value of assets and liabilities between balance sheet positions. These changes can occur from transactions, and from non-transactional changes such as changes in market value and other volume changes in assets and liabilities (eg a write-off of house values due to catastrophic earthquakes).

These accumulation statistics will be updated in December 2018. The accumulation accounts are the second stage of a four-stage programme to improve our national accounts. The next stage is to compile the accounts each quarter, which is due for release in the first half of 2020.

For more information about these statistics:

Tables (Excel)      

 (See attached file: accumulation-accounts-2008-16-provisional-table1-all-sectors-by-year.xlsx)(See attached file: accumulation-accounts-2008-16-provisional-table2-institutional-sectors.xlsx)(See attached file: annual-balance-sheets-2007-16-provisional-updated-table1-all-sectors-by-year.xlsx)(See attached file: annual-balance-sheets-2007-16-provisional-updated-table2-institutional-sectors.xlsx)(See attached file: annual-balance-sheets-2007-16-provisional-updated-table3-total-domestic-economy.xlsx)

accumulation-accounts-2008-16-provisional-table1-all-sectors-by-year.xlsx
accumulation-accounts-2008-16-provisional-table2-institutional-sectors.xlsx
annual-balance-sheets-2007-16-provisional-updated-table1-all-sectors-by-year.xlsx
annual-balance-sheets-2007-16-provisional-updated-table2-institutional-sectors.xlsx
annual-balance-sheets-2007-16-provisional-updated-table3-total-domestic-economy.xlsx
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Statistics New Zealand Guest nights cool in April – Accommodation survey: April 2018

Source: Statistics New Zealand

Guest nights cool in April – 13 June 2018

Guest nights fell 0.9 percent in April 2018, to 3.43 million, Stats NZ said today.

This compares with 3.46 million in April 2017, which was boosted by the timing of Easter that year.

“Easter fell partly in March this year, which boosted March statistics but had a dampening effect on April,” accommodation statistics manager Melissa McKenzie said.

“April 2017 was a bumper month, with Easter weekend coinciding with Anzac day and school holidays. This year these events were more spread out.”

In April 2018, guest nights fell 5.4 percent in the North Island and rose 5.5 percent in the South Island when compared with April 2017.

When the movement of the Easter holiday and other seasonal effects are accounted for, guest nights rose 2.3 percent in April 2018 from March 2018.

The accommodation survey collects data for guests staying in short-term commercial accommodation such as hotels, motels, backpackers, and holiday parks. Hosted and private accommodation, such as bed and breakfasts and holiday homes, are excluded.
For more information about these statistics:

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Just over 3 percent of home transfers go to overseas buyers – Property transfer statistics: March 2018 quarter

Source: Statistics New Zealand

Just over 3 percent of home transfers go to overseas buyers – 7 June 2018

In the March 2018 quarter, just over 3 percent of home transfers were to people who didn’t hold New Zealand citizenship or resident visas, Stats NZ said today.

“The proportion of homes transferred to overseas people rose to 3.3 percent in the March quarter, from 2.9 percent in the December 2017 quarter,” property statistics manager Melissa McKenzie said.

“This increase was driven by a fall in the total number of transfers, and a small rise in the number of transfers to overseas people.”

“The proportion of overseas sellers also increased in the March quarter, to reach 1.5 percent, after staying steady at 1.3 percent for a year.”

Nearly 33,000 homes were transferred in the March 2018 quarter. Almost 4 in 5 of these were transferred to at least one New Zealand citizen. The other 1 in 5 were transferred to corporate entities, resident-visa holders, and overseas people.

“Home transfers aren’t just the sale and purchase of houses, although for simplicity we refer to the people involved in transfers as buyers and sellers. They also include the transfer of a deceased family member’s home, a marriage settlement, and administrative changes,” Ms McKenzie said.


In the March 2018 quarter, nearly 10 percent of all home transfers were to corporate entities. Information on the ownership of these entities (by New Zealanders or overseas people) is not currently available. The corporate category excludes most trusts, because each trustee must provide information about their citizenship or visa status. Therefore, most trusts are included in the statistics for individuals rather than corporates.

In the March 2018 quarter, the territorial authority with the highest proportion of home transfers to people who weren’t New Zealand citizens or resident-visa holders was Queenstown-Lakes district (9.7 percent of all home transfers), followed by Auckland (at 7.3 percent).

“The proportion of overseas home buyers varies across Auckland. For example, it was 1.7 percent in Franklin and 19 percent in the inner city (Waitemata) in the March quarter,” Ms McKenzie said.

“Consultation about amendments to the Overseas Investment Act may have been a factor in recent increases in the proportion of transfers to non-New Zealand citizens and residents. The proposed changes could make it more challenging for overseas buyers to purchase residential land in New Zealand.”

Transfers to overseas tax residents pass 4 percent

Including homes, land, and commercial property, 4.3 percent of all property transfers involved at least one buyer with overseas tax residency in the March 2018 quarter (compared with 3.0 percent in the March 2017 quarter).

The tax residency status for a further 41 percent of transfers was unknown.

“Many buyers and sellers are exempt from providing tax details if they’re transferring their main home,” Ms McKenzie said.

“However, citizenship and visa information is required for nearly all transfers, excluding a small number of transfers such as Māori land transfers and Treaty of Waitangi settlements.”

Tax residency is not the same as nationality. An overseas tax resident may be a New Zealand citizen living overseas. Alternatively, a New Zealand tax resident could be an overseas citizen who lives in New Zealand, or a company with overseas owners.

Stats NZ releases property transfer statistics

Property transfer statistics are mainly based on land transfer tax statements, which are completed for tax administration and housing policy purposes.

Stats NZ has taken over the analysis and publication of property transfer statistics from Land Information New Zealand (LINZ). LINZ produced the quarterly Property transfers and tax residency reports from 2016, and has helped Stats NZ replicate their methodology and enhance the data series.

See Datainfo+ for information on the methodology used to produce property transfer statistics, and changes to the collection now that they are produced by Stats NZ.

For more information about these statistics:

Tables (Excel) property-transfer-statistics-march-2018-quarter.xlsx

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Volume of building activity falls in March quarter – Value of building work put in place: March 2018 quarter

Source: Statistics New Zealand

Volume of building activity falls in March quarter – 6 June 2018

Residential and non-residential building activity volumes fell in the March 2018 quarter, Stats NZ said today. The fall in building activity takes into account the effects of higher construction costs and typical seasonal patterns.

“Total building activity volume decreased 0.9 percent in the March 2018 quarter, following rises in the December and September 2017 quarters,” construction statistics manager Melissa McKenzie said. “The fall in the latest quarter comes off the back of record high volumes in the December 2017 quarter.”


Residential building activity volume fell 0.5 percent in the latest quarter, following a 0.8 percent fall in the December 2017 quarter. Non-residential building activity volume fell 1.5 percent, following a 3.8 percent rise.

Auckland and Canterbury drive construction activity

Together, Auckland and Canterbury accounted for $3.0 billion (56 percent) of the national value of total building activity in the March 2018 quarter.

“Total building work in Auckland was about $2 billion per quarter for the last year, while values in Canterbury were down from post-earthquake highs,” Ms McKenzie said. “However, these values were boosted by higher construction costs.”

In Auckland, the actual value of residential building work has been growing strongly, with the March 2018 quarter value of $1,389 million almost double that in the March 2014 quarter. Meanwhile, non-residential building work has shown moderate growth. Offices, education buildings, and accommodation buildings accounted for more than half of Auckland’s $632 million total non-residential building work in the March 2018 quarter (see More hotels on the way).


In Canterbury, the actual value of building work in the latest quarter was $941 million – the lowest quarterly value since the March 2014 quarter. Residential building activity value in Canterbury has been generally falling since the March 2015 quarter. Non-residential building activity has been variable – but reached $440 million in the March 2018 quarter. The latest value was boosted by several projects on social, cultural, and religious buildings (see Conferences, culture, and tourism boost consents).

For more information about these statistics:

Tables (Excel) value-of-building-work-put-in-place-march-2018-quarter.xlsx

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New Zealand Homes consented dips in April – Statistics New Zealand

Source: Statistics New Zealand

The seasonally adjusted number of new homes consented fell 3.7 percent in April 2018, Stats NZ said today. This followed a 13 percent increase in March.

“Apartments and townhouses consented tend to be unevenly spread month to month, which causes peaks and troughs in total new homes consented,” construction statistics manager Melissa McKenzie said.

The number of stand-alone houses consented fell a seasonally adjusted 1.4 percent in April.

Record year for townhouses as home consents rise
In actual terms, new homes consented rose 5.4 percent to 32,015 in the 12 months to April 2018, the highest level since 2004.

Townhouses and apartments drove the increase in the total number of homes consented, offsetting a slight dip in consents for new houses. Consents issued for townhouses reached a record 5,508 in the year ended April 2018. This surpassed the previous highs for townhouses: 5,287 in the year ended March 2018 and 5,169 in the year ended June 1995.

“The number of townhouses consented may have been higher than this before 1990, particularly during the building boom of the mid-seventies. Before 1990 only a total was recorded for the number of new homes,” Ms McKenzie said.