The new Government is promising big changes to the housing market, but not everyone is happy with the new policies aimed at cooling the Kiwi market.
Housing Minister Phil Twyford is promising to make it easier for first time home buyers to get into the market, touting a ban on foreign buyers to help achieve this, but some experts aren't so sure.
"In Australia similar polices have been implemented and they have had a very minimal impact," chief executive of REINZ Bindi Norwell told 1 NEWS.
Under the coalition agreement the Government's promising to track foreign ownership through a register so there's accurate data.
"From the data that we've got that does have some flaws, it does suggest that foreign purchases of property are relatively small.
"When we are looking at the property market the really significant buying category is actually the domestic investors in property," ASB chief economist Nick Tuffley said.
Mr Tuffley believes loan restrictions implemented under the National-led government have already seen the housing market cooling off.
"Loan restrictions have particularly affected investors and made it more challenging for them to raise the finance, so the market is certainly cooling off," he said.
Jacinda Ardern has said banning foreign buyers from buying into the existing market is a top priority of the new Government, so expect to see the new changes soon.
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