"We stand strongly in favour of the view that housing is a right, " Ardern said.
New Zealand's new government is moving quickly to fulfill a campaign promise by banning foreign investors from buying homes. The ban is meant to reduce demand in what the prime minister is calling a housing crisis. Australians will be exempt from the ban. In Auckland, the country's most populous city, prices have almost doubled in that same period, according to Reuters.
"We need to acknowledge that we are - unless we make dramatic changes - at the front of seeing refugees as a result of climate change, and so we see a duty of care there both to champion internationally the importance of responding to climate change, but also doing our bit". "Kiwis should not be outbid like this".
One surprise about the Government's confirmation of its plan to ban foreigners from buying existing houses was how effortlessly it seemed to sidestep its trade obligations. It is the fourth least affordable housing market in the world, after Hong Kong, Sydney, and Vancouver.
She added that many foreign investors prefer to put their money into new properties that haven't been built yet, which aren't included under the planned rules in New Zealand.
"This is a policy that's created to solve a political problem, " said Steven Joyce, the National Party's finance spokesman.
Residential housing will be classed as "sensitive" under the Overseas Investment Act. The 11 TPP members had set a goal of reaching broad agreement on the pact on the sidelines of the Asia-Pacific Economic Cooperation meeting in Vietnam next week.
In its current form, the TPP would maintain foreigners' access to New Zealand property.
Parker admitted it was impossible for the Government to know exactly how big the impact of the ban would be due to a lack of clear data around foreign buyers.
Ms Ardern also backed the government's position on moving towards offering refugee placement for people affected by climate change, particularly on low-lying islands in the region. She said it then won't breach any trade agreements except the Singapore Closer Economic Partnership, which would be worked through with Singapore.
Ardern said it should be passed in early 2018.
"Ultimately investor state dispute resolution is about when you have a state which acts in a way that is not telegraphed to look forward to, so those resolution processes are actually of more benefit to New Zealand companies operating in other countries which perhaps don't have the same level of independent judiciary and so on".