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...
Say goodbye to tyre waste
About 40% of the 6.5 million tyres Kiwis use every year are recycled, repurposed, or used as tyre-derived fuel. But the rest end up in landfills, stockpiled or dumped.
The good news is now there’s an easy solution to all that tyre waste. It’s called Tyrewise and is New Zealand’s first national tyre recycling scheme.
Tyrewise ensures that tyres in Aotearoa New Zealand are recycled or repurposed properly, saving millions from going to the landfill.
Find out more about the scheme online.
Poll: Does the building consent process need to change?
We definitely need homes that are fit to live in but there are often frustrations when it comes to getting consent to modify your own home.
Do you think changes need made to the current process for building consent? Share your thoughts below.
Type 'Not For Print' if you wish your comments to be excluded from the Conversations column of your local paper.
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91.8% Yes
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7.7% No
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0.5% Other - I'll share below!
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