Property a productive investment: Newland
Hundreds of thousands of jobs rely on the turnover of housing stock in this country, says property commentator Olly Newland.
Wednesday, January 16th 2013, 12:00AM
by The Landlord
He says those who say that investment in property should be discouraged because it is not productive for the country’s economy are wrong.
"Every time a property changes hands, there’s carpets, blinds, drapes to be done. Slowing the market would have a huge knock-on effect to unemployment. Maybe it’s not exports but if someone has a $50,000 or $100,000 deposit, what can they do in the export market? I don’t know.”
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