Housing Policy
An interesting time for our market today with the announcement of the extension to the current Bright Line rule of 5 years to 10 years. To be fair, most people saw this coming and certainly if you are a true investor and in it for the long term, this certainly isn't going to have a dramatic effect on your current situation.
The First Home Grant cap which most buyers in our area have not been able to use for quite some time now due to the rapid increase in house prices has also been adjusted from $400,000 for our area to now $500,000. I will just add that the Manawatu/Wanganui Median house price for February 2021 was at $545,000 so I will let you do the math's on that one.
What perhaps we didn't see coming was the removal of interest deductibility from investment property mortgages. This certainly won't be sitting nicely with Investors across the country as some Landlords now claim the interest as an expense as this reduces the amount of tax they pay.
What do you think of the housing policy changes released today?
A full run down of all changes and dates of these new legislations can be found here:
www.interest.co.nz...
Poll: Do you think banning gang patches is reasonable?
With the government cracking down on gangs, it is now illegal for gang members to display their insignia in public places whether through clothing or their property.
This means arrests can be made if these patches are worn in places like restaurants, shops, on public transport or ferries, and on airplanes. Arrests were made recently at a funeral.
Do you think this ban is reasonable?
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76.3% Yes
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22.3% No
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1.4% Other - I'll share below
What's your favourite recipe for courgettes?
Kia ora neighbours. If you've got a family recipe for courgettes, we'd love to see it and maybe publish it in our magazine. Send your recipe to mailbox@nzgardener.co.nz, and if we use it in the mag, you will receive a free copy of our January 2025 issue.
Poll: Should all neighbours have to contribute to improvements?
An Auckland court has ruled a woman doesn’t have to contribute towards the cost of fixing a driveway she shares with 10 neighbours.
When thinking about fences, driveways or tree felling, for example, do you think all neighbours should have to pay if the improvements directly benefit them?
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82.1% Yes
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15.2% No
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2.7% Other - I'll share below
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