Ponsonby chartered accountant Hongying Qiu was in and out of 11 Farrar St in Grey Lynn within 10 minutes yesterday afternoon inspecting it before it goes to auction next week.
She said she was a New Zealander who hated the thought that real estate would be fenced off from foreign investment. "I'm against it. I'm quite happy with the current government policy - foreign investment is good for New Zealand."
One family who turned up to view the property were angry that they saw property investors who won a $1.165 million auction in the suburb earlier yesterday morning attend the Farrar St open home in the afternoon. Charmone Ford, who was with her two toddlers and husband, said families were effectively cut out of the market.
"That [auction] was at 12.30 - I'm quite annoyed that they can write out a cheque and come straight here."
She said losing out to foreign investors didn't sit comfortably with her, especially for houses that were clearly in need of renovation. "It pushes up the prices and that price isn't realistic."
