Yes, you read that right. Two things only this week. Lets be honest, two major changes to investors’ cash-flow are going to be enough to drown out most other headlines for weeks to come!
1. From October onwards if you want to buy an Auckland investment property, you will need to come up with 30% deposit says the Reserve Bank. Straight off the bat the bank bosses are showing the new rule no love. Especially when it is not even based on hard science. Andrew King from the NZPIF also points out that the ultimate losers in all of this are the tenants not the landlords. Well, somebody has to…
5. Meanwhile the Prime Minister spent Sunday announcing a bright line test for property speculators. With a very limited number of exceptions, if you buy and sell within two years you will be charged an income tax on your gains. Hey! We have no problems with that.
What have you been keeping an eye on? Comment and share below!