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LINZ data shows 3% of 2016 property transfers involved overseas tax resident buyers

27 February 2017

The latest quarterly data released by Land Information New Zealand (LINZ) shows that over 2016, 5,466 property transfers - 2.6% of the total of 207,597 in 2016 - involved overseas tax resident buyers (including trusts, companies and businesses as well as individuals.

In the October to December 2016 quarter, 2% of property transfers involved overseas tax resident buyers and 3% involved overseas tax resident sellers.

The figures are gathered by LINZ for property tax purposes, and are not a register of foreign ownership.

LINZ Deputy Chief Executive Russell Turner says there was a slight drop in the number of overseas resident tax buyers in the December quarter.

"They were involved in 2% of transfers in October to December, compared to the 3% we saw in the first three quarters of 2016," he says.

LINZ says 58% of transfers in the December 2016 quarter involved buyers who have only New Zealand tax residency. This was similar at 60% for the September quarter.

Buyers who did not need to provide tax information accounted for 40% of transfers in the December quarter. The majority of these were New Zealand citizens or residents who were buying their main home. This compared to 37% in the September quarter.

Transfers for 2016 quarter ending
Measure31-Mar30-Jun30-Sep31-DecTotal
Overall transfers45,11457,67853,99150,814207,597
Involving overseas tax resident sellers11581749143111285466
Involving overseas tax resident buyers10621560150313715496
Auckland transfers involving overseas tax resident buyers4749006485192541

Last updated on the 16th September 2019