NZ Like A Disney Wonderland For Foreign Buyers

Oprah Winfrey might not have bought the property she has been filming the Disney movie ‘A Wrinkle in Time’ at, but the sale of Hunter Valley Station at Lake Hawea, is yet another iconic property that has disappeared into foreign hands, says New Zealand First Leader and Northland Member of Parliament Rt Hon Winston Peters.

“The just approved sale of the station to an American buyer is part of a large scale sell-off of New Zealand land under National that has been unprecedented in our recent history.

“Last year between January and December the Overseas Investment Office rubber-stamped 87 sales covering a gross land area of 362,132ha.

“The largest sale was 4973ha of forestry plantations in Marlborough which went to foreign investment companies who also snapped up substantial amounts of land in Southland and Wairarapa.

“In another big sale last year a Hong Kong company bought 3551ha of land near Lake Tekapo.

“Yet while this sell-off of our land continues, we still do not know how much of it is owned by foreigners.

“The amount must embarrass the National government since they did not support New Zealand First’s Land Transfer (Foreign Ownership of Land Register) Amendment Bill which would have ensured a comprehensive register of all foreign-owned New Zealand land,” Mr Peters says.

“These land transfers encouraged by National explains why the government did not support our bill.

“New Zealand First has long campaigned against the transfer of land to foreign ownership.”

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