tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, May 17th, 8:01PM

News

rss
Latest Headlines

Two thirds of MPs are investors

Property investors have copped heavy criticism from politicians over the last year - yet a majority of New Zealand’s MPs are investors themselves.

Thursday, April 14th 2016, 10:00AM

by Miriam Bell

The annual register of MP’s pecuniary interests has just been released and it reveals the property holdings of our political representatives.

It turns out that around two-thirds (81) of our 121 MPs own two or more properties.

However, there does appear to be some degree of political allegiance at work.

Those on the right of Parliament dominate the list of multiple property owners, while just 26 Labour and Green MPs declared more than one property.

While many of the MPs who have interests in more than one property own a family home and a holiday home, others have far more significant investment portfolios.

The three MPs with the biggest property holdings are all from the National Party.

Minister of Justice Amy Adams, Minister for Primary Industries Nathan Guy and first time National list MP Parmjeet Parmar each have ownership stakes in seven properties.

Adams has stakes in a residential property, two commercial properties, a farm, a vacant section and two lots of bare land.

Along with his family home, Guy has stakes in a farm (with four dwellings), a house, two rental properties, a bare section and has interests in commercial properties.

Besides his family home, Parmar also has stakes in four rental properties, a commercial and residential property and a commercial property.

National’s Jacqui Dean and Barbara Kuriger and, perhaps surprisingly, Green MP Kevin Hague all have interests in six properties.

Another seven MPs have interests in five properties.

They are Kanwaljit Bakshi (National), Minister of Defence Gerry Brownlee, Tutehounuku Korako (National), Minister of Trade Todd McClay, Anne Tolley (National), Scott Simpson (National) and Nicky Wagner (National).

Further, Labour MPs Adrian Rurawhe, Rino Tirikatene, and Poto Williams and NZ First deputy leader Ron Mark all have stakes in multiple blocks of Maori land – on top of other properties.

Despite being known for his self-made fortune, Prime Minister John Key has stakes in just four properties. These include his family home, two holiday homes (one of which is in Hawaii), and an office.

Nearly half of the MPs with interests in more than one property own at least one property in Auckland.

This means many will have been the beneficiaries of the SuperCity’s record-breaking house price growth over the last couple of years.

Meanwhile, there are 40 MPs who have interests in just one, or less, property.

Labour leader Andrew Little and Labour’s outspoken housing spokesperson Phil Twyford fit into this category, declaring just their family homes.

Eleven MPs have no property interests at all.

They are National’s Louise Upston, Paul Foster-Bell and Todd Barclay; Labour’s David Cunliffe, Kris Faafoi and Peeni Henare; the Green Party’s James Shaw and Marama Davidson; NZ First’s Darroch Ball and Ria Bond; and ACT’s David Seymour.

« Out of the doldrums, into the fireFree Investment Property Showcase Events: Auckland, Wellington and Christchurch »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Brian Gaynor dies
    “RIP - a true icon and such a humble person who helped so many....”
    1 day ago by p simone
  • Brian Gaynor dies
    “Very sad. Condolences to him family....”
    1 day ago by sanet.drury@gmail.com
  • Brian Gaynor dies
    “Brian was someone you would always go and listen to if he was presenting at a seminar or conference, someone you would always...”
    1 day ago by MikeBeuvink
  • Brian Gaynor dies
    “A true champion of the industry. My sincere condolences to family, colleagues and friends. ...”
    1 day ago by Pragmatic
  • [GRTV] AIA rolls out direct life insurance plans
    “Thanks Lifeadviser1, and it is great to see you have been having a play in the system. You are right, in the original...”
    1 day ago by Sam.Tremethick
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 5.35 4.49 5.25 5.55
ANZ 5.54 5.15 5.85 6.15
ANZ Blueprint to Build 2.78 - - -
ANZ Special - 4.55 5.25 5.55
ASB Bank 5.35 4.49 5.25 5.55
Avanti Finance 5.45 - - -
Basecorp Finance 6.45 - - -
Bluestone 5.29 7.49 7.59 -
BNZ - Classic - 4.55 5.25 5.45
BNZ - Mortgage One 5.55 - - -
BNZ - Rapid Repay 5.55 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 5.55 5.35 5.94 5.99
BNZ - TotalMoney 5.55 - - -
CFML Loans ▲6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 4.70 5.20 -
Heartland Bank - Online 4.00 3.85 4.70 4.84
Heretaunga Building Society 5.95 4.80 5.50 -
HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.25 ▲4.29 ▲5.09 ▲5.35
Kainga Ora ▲5.43 ▲4.57 ▲5.58 ▲5.85
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
Kiwibank Special 5.00 4.55 5.19 5.39
Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
Resimac 4.59 5.60 6.16 6.29
Lender Flt 1yr 2yr 3yr
SBS Bank 5.29 4.69 5.35 5.49
SBS Bank Special - 4.19 4.85 4.99
Select Home Loans 4.09 4.29 4.86 5.09
The Co-operative Bank - First Home Special - ▲4.19 - -
The Co-operative Bank - Owner Occ 5.45 ▲4.29 5.19 5.45
The Co-operative Bank - Standard 5.45 ▲4.79 5.69 5.95
TSB Bank 5.59 ▼5.14 6.05 6.15
TSB Special 4.79 ▼4.34 5.25 5.35
Unity 5.65 ▲4.80 ▲5.50 -
Wairarapa Building Society 5.24 4.55 5.20 -
Westpac 5.54 5.09 5.79 6.09
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.54 - - -
Westpac Special - 4.49 5.19 5.49
Median 5.45 4.55 5.25 5.52

Last updated: 16 May 2022 9:03am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com