This has been a problem for the Kiwis for decades. No stamp duty, land tax and capital gains tax make it quite attractive to invest in NZ and the poor old local Kiwi gets priced out of the market so they jump the Tasman and who can blame them.
IMO a ban on foreign property investment may help the economy in that many young people could afford a house and stay there perhaps. As it is the property market is moved by foreign influence and not by local market reality..
