Landlord polls: Rents will lift, sales will be low
The most recent poll was undertaken by the New Zealand Property Investors Federation (NZPIF) and sits alongside polls done by independent economist Tony Alexander and New Zealand Property Investor magazine.
On average NZPIF’s members own 5.3 properties each. The 1,719 survey respondents say they will have to fork out $3,140 every year in extra tax for each property.
NZPIF’s poll shows the Government’s extension of the bright-line test to 10 years and removing tax deductibility will affect more than 90% of rental property owners. The result increasing each investor’s costs, on average, by about $15,000 through the higher tax.
To offset the tax increases 76.8% say they will increase or probably increase rents. A further 8.9% might increase rents and the median increase is expected to be between $21 and $30 a week.
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