Minister says foreign land sales small despite increase

Land Information Minister Mark Mitchell says there is no ‘‘big buy up’’ of New Zealand land, despite figures suggesting a five-fold increase in the amount sold to offshore buyers in 2016 compared with 2015. The Overseas Investment Office reported 466,000 ha of land was sold to offshore buyers in 2016. Mitchell said the percentage of land that attracted foreign investment was a ‘‘very small’’ amount of productive land. NZ First’s Winston Peters said a foreign buyers register is needed.