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...
Snap up a special NZ House & Garden deal this Mother’s Day
This Mother’s Day enjoy up to 32% off when you subscribe to NZ House & Garden magazine for 1 year PLUS go in the draw to win one of 90 Antipodes serums worth $56 each! This silky-light hyaluronic serum offers up to 72 hours’ hydration to quench skin and foster a fresh, dewy appearance.
Gift a subscription today at mags4gifts.co.nz and add a personalised e-card to your order to make your gift even more special. Offer ends at midnight on 19 May, so don’t miss out! T&Cs apply.
The perfect treat this Mother's Day
This Mother's Day treat yourself or a loved one with the ultimate Sunday self-care gift.
Purchase a discounted subscription to Sunday Star-Times before 12 May, and receive a FREE Antipodes Maya Hyaluronic 72-Hour Hydration Serum worth $56*. Find out more below.
Gifting a subscription? Add a personalised e-card to your order to make your gift even more special. Offer ends next week so don’t miss out! T&Cs apply, promo code must be applied.
Share your New Zealand music memories...
It's NZ Music Month and New Zealand really has some beautiful songs from artists that we call our own.
Whether it's April Sun in Cuba, Don't Forget your Roots, or How Bizarre or Bic Runga's 'Sway' - songs have a way of unlocking memories and evoking old feelings.
In honour of NZ Music Month, share a New Zealand song or artist that is special to you and explain why.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
Loading…
