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.

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