Labour’s chinky names scandal exposed as a lie

Phil Twyford was the architect of their racist attack on people with chinky sounding names, and the data analyst who crunched the numbers for the chinky homes scandal is now working in the PM’s office.

But the issue has now been fully exposed as a lie: Quote:

Only just over 3 per cent of houses sold or transferred?in the March quarter went to foreigners, Stats NZ data shows.

Of the properties which transferred to new ownership in the three months, 3.3 per cent went to people who were not citizens or residents, up from 2.9 per cent in December.

That includes not just sales but transfers of ownership due to a death, marriage settlement or other administrative changes.

“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,”?property statistics manager Melissa McKenzie said.

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

Economic development minister David Parker said because the rate of sales by foreign owners was lower than the purchase rate, the share of homes in foreign ownership was increasing.

He said the housing stock should be a New Zealand asset, not an international one.

“This is a growing problem in New Zealand borne of the concentration of wealth occurring around the world in a small percentage of the global population who have captured most of the wealth generated in recent decades.”

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

These figures are very close to the numbers that REINZ released at the back-end of 2017 which indicated that only 3.8 per cent?of sales were to offshore buyers. In our view, the figures from Statistics NZ confirm that it’s not worth going ahead with a blanket ban on foreign buyers across New Zealand,” said Real Estate Institute (REINZ) chief executive Bindi Norwell.

“As we outlined in our submission to the Select Committee, if foreign buyers are banned from purchasing property in New Zealand, it could significantly impact development funding which would therefore impact supply and potentially see prices increasing ? the exact opposite effect the ban is seeking to have.” End quote.

In election year Labour claimed that 40% of Auckland’s house sales were to foreigners: worse yet, to people with chinky sounding names.

Another Phil Twyford fiasco, based on lies, hyperbole and bullshit. Jacinda Ardern also supported this policy.

I wonder when they are going to apologise to people with chinky sounding names?