More Affordable Housing A Key Focus

housingThe Resource Management Act is likely to be overhauled with a Bill presented to Parliament before Christmas. John Key was sworn into office yesterday and the revamp of the RMA was firmly on his agenda.

The Property sector is often a key driver of the economy and by making it easier for property developers to do business, new homes will built faster and they will ideally met the needs of New Zealanders.

The environmental clauses of the RMA are the biggest concern. Environmentalists have said they don’t want the clauses merged as currently proposed and Dr Nick Smith the new Environment Minister has been tasked with reviewing the draft legislation for some middle ground.

The Environmental NGOs Protest and a lack of support from National’s coalition partners prompted a rethink that may see the merged clauses remain separate but with some provision to the economic viability of clause 7.

Whatever the outcome of the RMA changes, the addition of more homes that are built well is good news for our economy and New Zealanders as a whole.

First Home Buyers need accommodation that can afford to get a step onto the property ladder. Housing affordability has always been a sore point none more so during the Election campaign. Property Investors may have dodged a bullet so to speak with the Capital Gains Tax on property an unlikely reality in the foreseeable future. New homes and established homes are good investments and there will be property investors securing new holes for tenants.

PropertyTutors owner and mentor Sean Wood says Auckland certainly needs more homes – his mentoring clients (active property investors) can not buy, renovate and sell homes fast enough to keep up with demand.

More homes on the market will provide more choice and at better values.

For more on PropertyTutors – visit their website

Tags: , , , ,

About PropertyTutors

“PropertyTutors Limited believes the information in this publication is correct, and it has reasonable grounds for any opinion or recommendation found within this publication on the date of this publication. However, no liability is accepted for any loss or damage incurred by any person as a result of any error in any information, opinion or recommendation in this publication. Nothing in this publication is, or should be taken as, an offer, invitation or recommendation to buy, sell or retain any investment in or make any deposit with any person. The information contained in this publication is general in nature. It may not be relevant to individual circumstances. Before making any investment, insurance or other financial decisions, you should consult a professional financial adviser. This publication is for the use of persons in New Zealand only. Copyright in this publication is owned by PropertyTutors Limited. You must not reproduce or distribute content from this publication or any part of it without prior permission.”