Economist: 'Housing market cooked and won't magically right itself'

Author
Newstalk ZB,
Publish Date
Tue, 23 Mar 2021, 3:51PM
(Photo / NZ Herald)
(Photo / NZ Herald)

Economist: 'Housing market cooked and won't magically right itself'

Author
Newstalk ZB,
Publish Date
Tue, 23 Mar 2021, 3:51PM

The Government will pour close to $4 billion into a scheme to accelerate the pace of new house builds, which is expected to help see "tens of thousands" of new properties built.

It is also doubling the capital gains tax-esque bright-line test from five, to ten years - meaning any gains on a residential property that is not a family home will be taxed if the property is sold within ten years of purchase.

Infometrics Senior Economist Brad Olsen joined Simon Barnett and Phil Gifford to discuss the changes.