New Zealand's ban on foreign home-buyers to start early 2018

Wellington

NEW Zealand Prime Minister Jacinda Ardern said on Tuesday that a ban on foreigners buying existing homes would begin in early 2018, but the restrictions would not apply to Australians.

Ms Ardern campaigned in the recent New Zealand election to restrict foreign buyers to reduce demand, while the country tackles what her Labour party says is a housing crisis left unresolved by the previous National administration.