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...
Neighbourly challenge: Who can solve the daily riddle?
I have a crown but am not a king.
I'm prickly on the outside but sweet within.
What am I?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
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Poll: Is dumping an issue in your neighbourhood?
There's nothing worse than strolling around the streets in your neighbourhood and seeing dumped rubbish.
Have you noticed this in your area? What could we do to combat this around the country?
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43.4% Yes, I've seen some illegal dumping
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56% No, our neighbourhood is pretty good
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0.6% Other - I'll share below
Riddle time: Because lawn mowing can wait!
George, Helen, and Steve are drinking coffee. Bert, Karen, and Dave are drinking soft drinks.
Following this pattern, is Elizabeth drinking coffee or a soft drink?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
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