From new rentals to redevelopments, some coalition MPs have been upping their ownership of residential properties.
MPs from National, New Zealand First and Act have purchased or built at least 25 new rentals, investment properties, or second homes since changing tax and tenancy laws to favour landlords.
The Spinoff identified the new property acquisitions by analysing changes to parliament’s register of pecuniary interests since the start of the parliamentary term in 2023. The register is a summary of MPs’ investments, debts and gifts they have received.
It comes after the government passed several changes to tax settings and tenancy laws in 2023 and 2024. These included reinstating tax deductibility on interest paid on rental properties, reducing the bright line property tax from 10 years to two, and restoring landlords’ ability to end tenancies without giving a reason.
Act MP Parmjeet Parmar topped the list, with five new rental homes, bringing her total investment property portfolio total to eight homes. The expansion came from two construction projects: a single property in Half-Moon Bay, Auckland, which she redeveloped into three homes, and a single property in Buckland’s Beach, also in Auckland, which was redeveloped into four homes. Both projects were completed this term.
An Act Party spokesperson, answering questions on Parmar’s behalf, said the government’s policy changes “were not a factor” in her investment decision. However, Parmar has publicly praised the government’s policies for making rental properties more advantageous investments. “By restoring mortgage interest deductibility and rebalancing tenancy laws, we’ve reduced the risk of providing a rental,” she said in a statement earlier this month.
National MP Kate Nimon added three new rental properties in Napier and Hastings to her portfolio, bringing the total to five. Nimon told The Spinoff, “My husband works in rental real estate and I’m a shareholder of the business. He purchased three rental properties last year as part of this work.” Nimon did not directly respond to questions about whether the government’s reforms influenced their decision to purchase the properties.
Other MPs who have added additional residential properties, excluding the family home, to the register since 2024 include Erica Stanford, Simon Watts, Tom Rutherford, Joseph Mooney, Shane Reti, David MacLeod and Grant McCallum, Mark Mitchell added a new holiday home in Bali, Indonesia, which would not be affected by any of the government’s policy changes.
Seven MPs purchased new properties in Wellington: Carlos Cheung, Jamie Arbuckle, Hamish Campbell, Ryan Hamilton, Mark Patterson, and Todd McClay. MPs based outside of Wellington can claim up to $36,400 per year towards the “actual and reasonable” costs of accommodation so they can attend parliament, while ministers can claim up to $52,000. The accommodation supplement is calculated based on “estimated market rentals for suitable properties in central Wellington”. However, many MPs instead choose to buy apartments in Wellington and use the taxpayer-funded benefit to pay the mortgage on a second property.
The register shows speaker Gerry Brownlee had added four new properties since the last election. Brownlee told The Spinoff this was an error; he owned them all prior to the election and had previously filled out his form incorrectly. He owns six properties, three of which are rentals, and has interests in two others through his grandfather’s trust. The New Zealand Herald’s Chris Knox revealed in February that Brownlee had been incorrectly and incompletely declaring his property ownership to Parliament for 20 years.
While some coalition MPs added homes to their portfolios, others reported a reduced number of properties. Prime minister Christopher Luxon, who was previously the largest landlord in parliament, reduced his holdings throughout the term from seven homes to three. NZ First deputy leader Shane Jones reduced the number of properties he listed from five to three (including a family home), and Act MP Simon Court reduced his properties from four family homes to two
No opposition MPs have added new rental or investment properties to the register this term, though Te Pāti Māori co-leader Debbie Ngarewa-Packer listed a new residential property under construction, and Labour’s Willie Jackson added a new property in Māngere Bridge, which brings his total of “family homes” to three. Green MPs Lawrence Xu-Nan and Celia Wade-Brown and Labour’s Tracey McLellan each listed a rental property but did not appear on the 2024 register because they entered parliament mid-term.
