
Statistics NZ reveal that in the year ending June 2018, a mere 0.6% of houses sold in the Napier /Hastings area were sold to non NZ residents (27 houses in total). Our observation is that foreign investors tend to operate in the top end of our market where the numbers of sales are constrained (in July and August this year, only one house sold in Napier for more than $1 million).
Good news for all those first home buyers (and some selected previous home buyers) out there. As of 1 August 2016 both the income and house price caps have all increased.
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Langley Twigg's team of Hawke's Bay lawyers keeps you up to date on all the latest legal news.