Greens urge restrictions on foreigners buying property

A crackdown on the number of foreigners investing in New Zealand property would help drive house prices down, the Greens have said.

The party's new leader, Dr Russel Norman, said he would urge Helen Clark to learn from her Singaporean counterpart when he visits the Beehive today.

He said Singapore had restrictions on non-residents buying land and there was no reason why New Zealand should not do the same.

Dr Norman said wages should be high enough and house prices low enough that everyone working full time should be able to buy a home.

He said reserving land ownership for New Zealanders would take the pressure off the overcooked housing market.

- NEWSTALK ZB