Years before changes make any difference
The Government has introduced a raft of changes to skew the market away from investors to first home buyers.
The changes also include: $3.8 billion for infrastructure development; first home grant caps lifted; interest deductibility scrapped; $2 billion loan to Kāinga Ora to buy more land; higher house price caps.
Prime Minister Jacinda Ardern believes the changes will dampen demand from speculators by making residential property “less lucrative” and will make a difference.
However, Goodall says the bright-line extension from five to 10 years will have little impact for investors who already own property.
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