The Centaur Posted February 28, 2019 Share Posted February 28, 2019 Immigration, AirBNB have been the main reasons for the huge rise in property values. The policy of requiring certain immigrants bring in say $1M has directly led to greater demand, whilst others have accessed overseas borrowing facilities not available to locals. In turn this has placed huge demands on so many services primarily health. Some investors driving this boom haven't even resided here so have benefitted on the backs of average NZer's. With the demand on services this has placed half the population worse off whilst others have had a windfall. Those not on the property boom now face a far greater hurdle to get on. Capital gains tax or some sort of counter measure is a must to bring about a balance. Otherwise we'll have a feudal type system where some just sit on property whilst others work 60 hours a week without the chance of owning a house. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.