Who is buying our real estate?
Interesting data in Stuff today:
The latest BNZ and Real Estate Institute residential market survey found 9 per cent of house sales were to people offshore.
Of those offshore buyers, 18 per cent were from Britain, 15 per cent from China and 14 per cent from Australia.
and many of the offshore buyers were immigrating, not just investing. In fact,
just 1.2 per cent of house sales in Auckland were to Chinese buyers not intending to move here.
The only thing the story is missing is some mention of how people got the false impression that high house prices were the fault of Chinese investors.
Could it have been something they read, perhaps?
Thomas Lumley (@tslumley) is Professor of Biostatistics at the University of Auckland. His research interests include semiparametric models, survey sampling, statistical computing, foundations of statistics, and whatever methodological problems his medical collaborators come up with. See all posts by Thomas Lumley »