Property editor of the NZ Herald

Ray White - China move not about selling NZ to foreigners

Labour MP Phil Twyford has expressed concern about Ray White's plans. Photo / File
Labour MP Phil Twyford has expressed concern about Ray White's plans. Photo / File

Ray White New Zealand says a new move into China isn't designed to flog our homes to foreigners but a response to globalisation led by Australia.

On the company's Facebook page, a statement has been posted this week explaining the background to the real estate agency's linkup with China's Lianjia, also known as Homelink.

"For anyone who is concerned about our recent partnership with Homelink, we'd like to clarify our position. We understand your concern and we would like to reassure you that our Australian-led partnership with Homelink, also known as Lianjia, is not designed to sell off more New Zealand homes to foreign buyers.

"The partnership is a move made in response to the increasing globalisation of the real estate industry. Many of our customers, particularly in Australia, have been requesting this type of marketing opportunity for some time.

"We share some of the concerns around affordability and are actively addressing these concerns with the appropriate government representatives. We are also aware that the laws around foreign property ownership are vastly different in Australia and New Zealand and the lack of restrictions around foreign buyer activity in New Zealand give many people reason for concern.

"As you can appreciate, as [a] real estate industry participant, we have no control over policy making and we would therefore request that if you have concerns that you address them to the relevant legislative body," the statement said.

We understand your concern and we would like to reassure you that our Australian-led partnership with Homelink, also known as Lianjia, is not designed to sell off more New Zealand homes to foreign buyers.
Ray White statement

Phil Twyford, Labour's housing spokesman, expressed concern about Ray White's move.

"There's no doubt non-resident foreign buyers are a significant presence in the market. I don't think Ray White would be taking an initiative like this if they didn't think that non-resident foreign buyers from China a significant force in New Zealand," Twyford said.

Labour wants to stop non-resident foreigners buying property here.

- NZ Herald

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