Mike's Minute: March 6th is the start of redemption

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Recorded12 Feb 2026

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March 6th is your day. This is the date that the changes to foreign buyers of expensive houses comes into play. This date, in a way, is like the LNG announcement. The idea of foreign buyers for houses isn't new. It's been part of the Government's plan ever since the Government became the Government. The LNG idea got floated in the winter of 2024, not long after the Government became the Government also. This proves one of two things - either it's hard work being in Government and things take longer than you think, or this lot aren't that flash at getting things done despite the rhetoric to the contrary. The foreign buyers rule is a righting of a horrible, myopic, narrow-minded wrong from the previous Government. House prices were never driven by Germans buying $15 million homes in Herne Bay, nor the Chinese buying $19 million homes in St Heliers. And Auckland is essentially where they were all bought. Queenstown has joined the party a bit lately. But the vast swathe of New Zealand never saw a mega purchase from a filthy, rich foreigner. Why it's important is we should see foreigners as good people who want to improve their lives, while improving ours via the improvement of the country. People who have money do things with it, like buy or build business, they invest, they grow, they employ and they pay tax. They bring knowledge and expertise and they, more often than not, fall in love with our piece of paradise and end up doing far more than they ever set out to do. I think a lot of Julian Robertson, an American who built lodges and golf courses here that bring in millions. He enhanced the place. And next time you're at the Auckland Art Gallery, go see one of his Picasso's. He gave them a fortune in art. What drives bans is envy, shallowness, fear and, often, stupidity. We have at last made it right. Yes, it will help the housing market, but more importantly it will help the country and this country needs to pull every trigger in its arsenal to fire it up. Nine years ago we were a place of pride and growth and global admiration. Labour 2017-23 destroyed that. March 6th is a small step back towards redemption and better days. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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