The move drew accusations of racism and claims Labour's analysis of statistics wasn't robust.
Mr Peters said Labour had previously "accused me of xenophobia and racism on this issue".
"They've finally cottoned on to what is going on."
Mr Peters said it didn't matter if the statistics were out by more than half because it still revealed a problem which needed to be dealt with.
"This allegation of racism is puerile and inane in the extreme."
Mr Peters said China's change in regulations had unleashed a flood of cash that was being used to buy up swathes of property around the world. Other countries, like Canada, were dealing with the same issue.
He said China, Hong Kong and Singapore were applying policies which restricted foreign investment and it made sense for New Zealand to do the same.
He said waiting for data to accumulate through Government plans to collect buyers' tax details was a waste of time because it was a plan which "you can drive a horse and cart through".
Mr Peters said the foreign ownership issue and Labour's new tax policy - two days after he announced NZ First's new position - was an attempt on his party's ground.
"Imitation is the most sincere form of flattery but who's got the record?"
He said any play for NZ First votes "won't succeed".
Labour leader Andrew Little did not respond to requests for an interview but yesterday refused to apologise over the issue after criticism from a former party candidate and office holder, Shane Te Pou.
Mr Te Pou said he would go to the Privacy Commission and Human Rights Commission because Labour's data included the purchase of his family home - bought under the name of his wife, Annie Du, who is of Chinese ethnicity.
He said the information had been released in a way that was "certainly unlawful".
"The use of it to describe Maori New Zealanders as Chinese, 'foreign money', and the cause of a housing problem is certainly unfair."
He said Labour was guilty of "racial profiling". The issue of foreign ownership was important and needed to be discussed - but Labour had gone about it in the wrong way. The decision to isolate and highlight Chinese people went against Labour's core principles.
"They got a lot of Chinese-sounding names and basically came up with an equation that I think is not robust but more importantly amounted to racial profiling."
Mr Te Pou said he believed Mr Little and Mr Twyford were "decent human beings".
"What they have done in this case is just wrong."
Chinese realty launch 'just coincidence'
The Chinese Real Estate Association of New Zealand says its formal launch in Auckland today is purely coincidental, after a week in which Chinese investment in the Auckland housing market has dominated headlines.
The group formed over a year ago, but will hold a private launch function at the Royal New Zealand Yacht Squadron today.
The Weekend Herald has obtained a copy of the invitation, which promises "formal speeches, cultural performances, lunch and networking".
"Chinese Real Estate Association New Zealand is a membership organisation representing Chinese businesses and individuals in the real estate and building industry. The aim is to provide services and education as well as a platform for engagement and dialogue within the industry and with key stakeholders and communities," the invitation states.
More than 100 guests from government agencies, key industry partners and community leaders are expected. No Labour Party representatives are understood to be on the guest list, but organisers say National MPs Nikki Kaye and Jonathan Young are.
The deputy secretary of the association, Norman Wang, said the timing of the launch had nothing to do with the firestorm of the past seven days.
"It's just a coincidence," he said. "The association is prepared and had some activity for ... more than a year. Most of the invitations were sent before the issue.
"I can't say whether the news of the last few days will be discussed, but what I can say is the main topic of the event is us launching, announcing the ceremonial opening of the association and welcoming all of our members.
"There will be a lot of our members and also representatives from business and government to make friends and share ideas."
- Simon Plumb
