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...
Scam Alert: Fake information regarding December Bonuses from MSD
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What has a head but no brain?
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Tacking the bamboo-like pest in the Manawatū
🌱 A new national scheme led by Biosecurity New Zealand is tackling an invasive weed that’s threatening wetlands, waterways, and forests in and around Manawatū, reports the Manawatū Standard.
💬 Our question to you: Do we sometimes overlook plants when investing in conservation?
Have you spotted this weed in your area, or noticed other local efforts to protect our native flora?
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