Latest Property Headlines

The Tax Working Group has recommended the Government implement a capital gains tax – and use the money gained to lower the personal tax rate and to target polluters. The suggested capital gains tax (CGT) would cover assets such as land, shares, investment properties, business assets and intellectual property. Any gains on the sale of […]

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Final recommendations from the Tax Working Group will be out on Thursday and industry groups, lobbyists, iwi authorities, financial experts and institutions are gearing up to react. The group, chaired by former finance minister Sir Michael Cullen, released an interim report last year which said it had “identified a list of asset classes that are not already subject to […]

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Acceptance that Auckland is now a buyer’s market has set in as Barfoot & Thompson’s latest data reveals a modest start to the year. Prices in the Auckland region continue to flat line, according to the real estate agency’s January data. Both the average sales price ($927,181) and the median sale price ($827,500) were down […]

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This might be about as busy as the New Zealand construction industry gets, economists say. There were 32,996 new homes consented for in the year to December. The number of consents that went to central government agencies hit a 40-year high. Those departments, including Housing New Zealand, were responsible for 1999 new home consents in […]

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New Zealand’s house prices are among the most unaffordable in the world, a new survey shows. The Demographia International Housing Affordability Survey rates housing affordability using the “median multiple”, a measure of median house price divided by median household income. Authors Wendell Cox and Hugh Pavletich ranks as affordable cities where the median price is […]

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New Zealand’s population is forecast to reach five million this year. Currently the population is sitting close to 4,934,000 Stats NZ website shows the population has been steadily climbing since the early 1990s, and this isn’t changing anytime soon. New Zealand’s population increases by one person every five minutes and 26 seconds, based on births, […]

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A ban on letting fees has come into effect, meaning the cost of renting is about to become cheaper – right? Wrong… living costs are likely to go up and it’s likely the letting fee will now just be built into rents. The Government was universally warned this would happen, not just by the industry […]

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The majority of New Zealanders believe they need to be saving more for retirement, according to ASB’s latest KiwiSaver survey. ASB’s Q3 2018 survey revealed that almost 60% of respondents believe KiwiSaver should be made a compulsory scheme,  62% believe they need to be saving more for retirement,  21% were comfortable that they did not need […]

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Wellington rents up 9.8pc, Auckland up 3pc, Christchurch down

Winston Peters has admitted that terminating letting fees may lead to “temporary rent rises” during Question Time in Parliament today. Mr Peters was answering on behalf of Jacinda Ardern when National Party leader Simon Bridges raised the issue. Mr Peters then admitted that rent rises may occur due to the policy, but said tackling housing […]

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The Government could raise billions of dollars by taxing more profits from the sale of property and shares. What sort of things might be newly taxed? Probably profits from the sale of land, shares, investment property, baches, businesses and intellectual property, and possibly almost any other assets that could appreciate in value and that don’t fall under the existing tax net. What about the family home? The Government […]

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