Trade Minister David Parker defends foreign buyers stance

David Parker is defending Labour's focus on Chinese buyers of New Zealand homes - despite figures released yesterday showing that out of 40,000 properties sold only about 500 went to people from China. The figures show that across the whole country just 3% of sales went to foreigners - although in hot housing markets of Auckland and Queenstown it is much higher. Labour has legislation in train to ban foreign buyers and Mr Parker says the figures back the importance of that.