property tagged posts

Greens Slam National Over Property

July 29, 2016 New Zealand Finance

The Green Party is suggesting that new data is showing that the current government is more interested in supporting housing speculators as opposed to New Zealanders wanting to buy their first home.

According to the Green party of New Zealand, the current government has allowed the country to become a “property speculators’ paradise”.

In a press release issued on July 26th the green party said that data from the Reserve Bank has shown that in June 2016 investors were issued NZD 2.56 billion on loans, while first-time home buyers were issued loans worth only NZD 738 million.

It was also shown that a total of 7 000 loans were issued to investors, while only 1 970 were issued to first-time homebuyers.

The Green party further went on to say that “National is clearly more interested in h...

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New Zealand Building Consents Break Records

January 11, 2016 New Zealand Taxation

The number of new buildings being built in New Zealand is nearing record levels, while the value of the homes is higher than ever.

For the first time ever, the value of consents granted for residential buildings in New Zealand over the course of 1 month has surpassed NZD 1 billion.

The total number of consents granted for new buildings in November 2015 reached 2 831, an increase of 17 percent over the same month in 2014.

The total value of the residential buildings consented in November was NZD 1.1 billion, while the value of non-residential buildings came to NZD 531 million.

The level of new consents is the highest on record aside from March 2005 when 3 027 buildings were consented.

The seasonally adjusted number of consents granted in November was 1.8 percent higher than in October.

Ph...

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New Property Rules Receive Ascent

September 28, 2015 New Zealand Taxation

New rules will come into effect within days to ensure that incomes from property sales are properly taxed and that money used for property purchases is legitimate.

Late last week the two new Bills received Royal Assent, bringing into force new regulations regarding the requirements imposed and the taxation matters concerning the purchase and sale of property in New Zealand.

From October 1st, new rules will be enacted which will ensure that the sale of any property, barring an individual’s main home, will be subject to income tax, if the sale occurs within 2 years of the initial purchase of the home.

Also, the sale of any property will also carry with it the requirement to provide to Land Information New Zealand the IRD number of the parties involved, and, if a party does not have an IR...

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National Critisizes KiwiBuild Plan

September 1, 2014 New Zealand Taxation

The National Party is claiming that the Labour Party’s plan for new housing will produce less results than actions already taken by National.

Over the weekend the National Party issued a new statement asserting that the Labour Party has backed down on its previous promises to boost the number of new houses being built in New Zealand.

According to the information in the newly published statement, the Labour Party had previously promised that it would launch a new program which would result in the building of 10 000 new houses each year, however, the Party’s Housing spokesman Phil Twyford has now stated that “…they would deliver only 800 houses in year one, 4000 in year two and 8000 in year 3 – or 12,800 over the next term of Parliament”.

The National Party now claims that the numbe...

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