Statistics NZ will publish statistics on property transfers by New Zealanders & overseas people, starting on Thursday 7 June.
Property statistics manager Melissa McKenzie said on Friday: “The statistics will include information on the citizenship or visa status of people transferring property, including homes, in New Zealand. They will also include information on the tax residency of people & companies involved in property transfers.
“The data in this release is mainly derived from land transfer tax statements (LTTS). The Land Transfer Office collects tax-related data when people buy, sell or transfer property, to ensure people comply with their tax obligations. They also gather some information for housing policy purposes.
“Stats NZ is taking over the analysis & publication of property transfer statistics from Land Information NZ (LINZ). LINZ has produced the quarterly property transfers & tax residency reports since 2016 using LTTS data, and has helped Stats NZ replicate their methodology and enhance the data series.
“As statistical releases are part of Stats NZ’s core business, we’ve worked with LINZ to take over their reporting on property transfers. Some new features of the Stats NZ releases will be the time series of the data, and details of home transfers by their location in New Zealand.”
Ms McKenzie said the first release would separate out property transfers to holders of resident visas. Previously these buyers & sellers were in the same category as New Zealand citizens” “This additional detail will help provide a fuller picture of who is buying & selling property in New Zealand.”
Attribution: Statistics NZ release.