Prime Minister John Key says bans on foreign ownership have not worked around the world.

Foreign owners could face ongoing taxes on assets if the Government believes overseas investment is a problem, John Key has signalled.

While the Government had not formed a view, Key raised the prospect on Monday of imposing a stamp duty on non-resident owners, saying it was much more likely to be effective than a ban.

The Government is consulting on gathering new information from buyers which would establish how much property is being bought by those who are non-residents from a tax perspective. The new data is expected to be required from October 1.

Key said that National was not considering how to control foreign investment until after the data began to be published, likely to be early next year.

While several political parties have proposed a ban on non-residents being allowed to buy properties, Key said a more effective control was through a stamp duty, charged on transactions, or a land tax.

"If you really want to stop non-residents from owning properties in New Zealand, would an ongoing tax [be] far more likely to be prohibitive than actually a ban, which they'd just simply get around," Key said.

Neither stamp duties nor land taxes were under active consideration but Key said they were both "tools in the toolbox" available to the Government.

He believed that when information on the buyers of property began to be published it would show the majority would be by Kiwis or those intending to reside here.

The information would be available "well and truly before the election" Key said, with a public debate likely to follow.

Key has previously said that moves to restrict foreign ownership could be determined based on the public response to data on the level of overseas buying in the new data.

Labour is calling for ownership of existing housing to be limited only to citizens and residents.

"Under Labour, if you have the right to live here you have the right to buy here, but not otherwise," leader Andrew Little said on Monday.

"Residency applies whether you're a recent arrival or born here. Investment in new housing adds to supply and will be allowed."