Property Investors Clean Up While First Home Buyers Feel Aggrieved

There have been a couple of news items on NZHerald lately that are creating a lot of discussion amongst New Zealand property investors.

On the discussion forums at PropertyTalk.com  the news item “revamp tax system to help out homebuyers” is creating quite a stir. The gist of the news item is first time home buyers are feeling aggrieved according to the journalist.

First time buyers believe property investors are getting unfair tax advantages so they are in a better position than first time buyers when purchasing residential properties.

Property investors are purchasing the properties as rentals and there is a lot of negative commentary in circulation that their ability to compete effectively at auction etc this is the inflation of the price of properties on the market and this is pushing properties beyond the reach of first time buyers.

The property investors on Propertytalk.com in response to reading this news item and many others of a similar ilk suggest it is the first time home buyers that are getting an unfair advantage with tax relief.

But wait, first home buyers can apply for Working for Families! Or a housing supplement if they’re on the dole!

Davo36 – PropertyTalk.com

Property investor comments online pointed out that the tax incentives are in place so private ownership of rental properties in the country is continued.  The Government realise Housing NZ can not be the only landlord in the country.    There needs to be an adequate supply of rental properties for the growing population and purchasing properties as rentals is essentially a business and like all businesses they need to make a profit e.g. get a healthy return for their investment.

The lack of rental properties on the market have resulted in the use of ‘Open homes’ where tenants view the property and essentially need to bit for it  and it’s tough for tenants to secure a quality rental in some areas of the country so its time property investors got a better rap and more support for the service they are providing.

Download this free eBook and get 29 Know How Property Investments tips eBook for free too – >>click here<<< 

 

 

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.”