Not a huge market for foreign buyers

And if they do rush in, there are only about 50,000 properties in the $2 million and above price range.

National says it will loosen the ban on foreigner buyers and allow them to purchase houses worth $2 million or more as long as they pay a 15% tax on the sale price.  It expects to raise $740 million a year in tax. 

Jackson says while the mortgage adviser company is always looking at funding investment property, he believes there won’t be the frenzied market of the pre-2018 ban on foreign buyers slapped on by Labour.

“Before the ban there was a lot of competition in some sectors of the housing market,” he says.