Clayton Mitchell New Zealand First MP

Increasing the required deposit for investors to 40% will only increase the gap between the working middle class and the rich.

Investors with large property portfolios will have little trouble meeting the new 40% limit as they continue to expand their investments.

However, our working middle class will be prevented from increasing their current wealth, which would have aided their children through university and supported them in retirement.

This new restriction effectively works as a freeze of the socio-economic classes, helping the rich get richer and trapping the rest of New Zealanders in their current socio-economic positions.

Meanwhile, the new restriction also does nothing to prevent wealthy foreign investors from buying up New Zealand properties.

It seems that putting the needs of New Zealand and New Zealanders first will require a clear change in government.