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Reserve Bank wrong on NZ immigration

The Reserve Bank of NZ has got it wrong in their statement that immigration into New Zealand is the main reason for house price inflation says the Chairman of New Zealand Association for Migration and Investment (NZAMI) and Managing Director of Woburn International Group.

June Ranson states, that the Reserve Bank statement regarding immigration having a big impact on house prices, appears to lack an understanding that this is only one factor when looking at the total situation.

June Ranson says the Auckland Council has restricted housing developments for a number of years and it is only because Government has drawn serious attention to this, that things are starting to change.

“The number of building consents is still far too short of what is required,” she says.

“There has not been an increase in migrants, although there has been a net migration gain and this is in relation to a cycle aspect rather than a continued issue.

“New Zealanders are a very transient migrant population with approximately 20% of New Zealanders living offshore.  The issue that is different now is that New Zealanders are not leaving.”

Ms Ranson says that the Rt.Hon. Winston Peters’ comments, fail to understand the makeup of the migrants coming into this country.

She says education institutions are actively seeking international students; also being sought are skilled migrants along with entrepreneurs and investors.