New research is revealing the influence property investors are having on Auckland's housing market.
Research carried out by Dr Michael Rehm for real estate website Property Click indicates property investors accounted for 41% of residential house purchases in Auckland in the first half of last year.
When it came to apartments they accounted for 54% of purchases.
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The study shows some Auckland suburbs have a greater proportion of property investment activity - in Otara investors made 80% of the purchases while in Manukau suburbs the ratio ranged from 59 to 68%.
The Labour Party is seizing on the new research.
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Labour MP Phil Twyford said it showed investors cashing in on skyrocketing house prices are driving families out of homes, and causing home ownership rates in some of the city's poorest suburbs to plummet.
"Everyone and their dog is getting into the business of property speculation, because in John Key's Auckland people have come to think that's the only way you can make a buck."
He said speculation was "running riot."
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