The quote on NZ property ...the new Gov , right wing, recently elected ,are rolling back all the policies that the Lab gov introduced . Allowing foreign buyers back into the market ( mostly Chinese), claiming mortgage interest as a tax deduction on old homes , , no capital gains tax after 2 years of ownership, the ability to end tenancies at owners discretion are all being implemented . A 10% rise is being predicted in Auckland. the new prime minister and many in Cabinet have large property portfolios .
Their goes affordable housing , however if you want to make a quick buck buy in Auckland .

bazz61 said..
The quote on NZ property ...the new Gov , right wing, recently elected ,are rolling back all the policies that the Lab gov introduced . Allowing foreign buyers back into the market ( mostly Chinese), claiming mortgage interest as a tax deduction on old homes , , no capital gains tax after 2 years of ownership, the ability to end tenancies at owners discretion are all being implemented . A 10% rise is being predicted in Auckland. the new prime minister and many in Cabinet have large property portfolios .
Their goes affordable housing , however if you want to make a quick buck buy in Auckland .

That's terrible. What genius decided that?

Sure, it's good for people that already own properties and want to sell, but for everyone else that just plain sucks. Trouble is that people are not coordinated enough politically and the same group that want it back the old way are the ones that are going to be leaning to the right.