The share of New Zealand homes being bought by overseas residents remains steady at roughly 3%, newly-released data shows. Photo: Getty ImagesIn the past three months, 1431 out of 53,991 residential properties were bought by people with overseas tax residency. Chinese and Australian tax residents were the biggest buyers, snapping up more than half of the 1431 homes between them. Chinese tax residents bought 372 out of 648 (57%) of the homes sold in Auckland in the last three months. In all, 60% of house sales and purchases in the last quarter involved people who had only New Zealand tax residency.

Source: Otago Daily Times November 17, 2016 03:09 UTC