Property investors pay $63m extra in tax

Wednesday 23rd December

Hi

Christmas has finally rolled round so this is the last Property News of the year.

Today we exclusively revealed that property investors have had to pay an extra $63.6 million in tax after a crackdown by Inland Revenue.

In predictions for the New Year, Terralink forecasts that historically high levels of mortgagee sales will lag 12 months behind the current economic recovery and Harcourts says provincial and coastal markets will improve.

We also look at ANZ National Bank's property gauges which point to a decline in house prices, as rising interest rates and tougher credit conditions deter a second wave of buyers from entering the property market.

We wish you all a Merry Christmas and a prosperous New Year.


Warm regards
The Landlord

Latest News

Property investors pay IRD extra $63m
Property investors have paid an extra $63.6 million since Inland Revenue started a crackdown programme. View More

Provincial and coastal markets picked to improve
Harcourts is predicting solidity in the New Zealand residential real estate market in 2010 and improvement in both coastal and rural areas. View More

ANZ property gauges point to decline in house prices
House prices are set to decline as rising interest rates and tougher credit conditions deter a second wave of buyers from entering the property market, according to ANZ National Bank's property gauges. View More

Mortgagee sales to stay high for another 12-months
Mortgagee sales are at historically high levels and numbers are expected to remain high in the New Year. View More

Mortgage Rates

BNZ has upped its one-year rates for its Standard/Flybuys and GlobalPlus options. Both products went up 26 points to 6.25% and 6.35% respectively and are now the highest offered by a bank. BNZ last changed its one-year fixed interest rate back in June of this year. View more

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Product Review

Inspiring Renovating Ideas
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