Jacinda Ardern’s announcement will hit investors hard, but more needs to be done
Property speculators have become public enemy number one in New Zealand’s rampant housing affordability crisis. Those buying, selling and renting out multiple properties have become wealthy at the expense of those in the middle and at the bottom of the market, who are paying high rents and struggling to afford to buy decent housing.
It is no surprise therefore that the housing announcement by Prime Minister Jacinda Ardern and her colleagues on Tuesday was firmly focused on reigning in those investors driving up the prices – with the most significant elements of the package designed to hit investors with increased tax responsibilities.
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