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  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 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 –

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.

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