Australians will be exempt from New Zealand's foreign buyers housing ban: Ardern

New Zealand's newly minted prime minister Jacinda Ardern has announced a ban on foreign buyers purchasing existing homes across the ditch will not extend to Australians.

New Zealand Prime Minister Jacinta Ardern says a ban on foreigners buying existing homes will begin in early 2018. Source: Getty Images

New Zealand Prime Minister Jacinda Ardern says a ban on foreigners buying existing homes will begin in early 2018, but won't apply to Australians seeking to buy homes across the ditch.

It comes after the New Zealand Labour leader, who formed a coalition government earlier this month, announced her first trip as prime minister will be a trip to meet Malcolm Turnbull.

Ms Ardern will meet the Australian Prime Minister on Sunday in Sydney before returning to Wellington later in the day.

The pair are expected to discuss trade and defence ties ahead of the upcoming APEC and East Asia Summits.

Ms Ardern told reporters the housing legislation will be introduced by December 25.

Her government campaigned in the recent election to restrict foreign buyers in order to reduce demand while the country tackles what her Labour party says is a housing crisis left unresolved by the previous National administration.