Hon DAVID PARKER: In respect of whether there is a problem to remedy, I think recent reports from CoreLogic and Statistics NZ show that there are. In the last quarter, the period for which we have the latest statistics, there has been a sharp rise in the percentage of existing properties that are sold to investors rather than either existing homeowners or first-home buyers, to the point where they now—those investors—are relying on advantageous tax rules that apply when you can heavily leverage a property, which you can in this asset class if you have a portfolio of properties over which you can spread the borrowings. That's now the largest segment in the purchases of existing property. The percentage according to the graph I have in front of me is 27 percent of all purchases in the most recent data were leveraged multiple-property owners, 12 percent were multiple-property owners with cash, and lower percentages lower than the 27 percent were perforce first-home buyers and for people selling one home and moving into another. So on that basis, we thought it was appropriate to move quickly.