Officials have been quietly working on a register of foreign buyers of New Zealand real estate even as the Government shrugged off the need for such information, it emerged today.
Earlier this year the Government indicated it was cold on the idea of a register of foreign buyers amid growing concern about offshore investors' role in driving up property prices, particularly in Auckland.
Last week however, Finance Minister Bill English and Prime Minister John Key said officials were keeping an eye on Australia's work towards a register of foreign buyers and wouldn't rule out following suit.
This morning Mr English said he understood some work was already underway amongst New Zealand officials on the issue.
"I gather there's some going on. This issue's been around for a couple of years, there's nothing new about it."