1. Capital gains tax has reared its head again following a media interview with the CEO of ANZ. Speaking with some property investor colleagues over the weekend we all agreed it is just a matter of time before some form of comprehensive capital tax was implemented. It raises some interesting questions such as what assets it would apply to, would the family home be taxed, would it be retrospective, what other options to collect taxes could be considered and the fairness of people’s differing situations.

2. Did you know New Zealand’s home-ownership rate increased from 64.8% to 66% according to the 2023 Census? Surprised? I was but it makes sense. Think about the affordability with lower interest rates around the pandemic, growing KiwiSaver balances and lower deposits needed especially around new builds. Kiwis’ love affair with property continues!

3. I recently advised a friend not to purchase a rental property that had unconsented work. This is quite common with garages turned into living areas. These types of properties may not be covered by insurance and obtaining retrospective consent maybe problematic. The properties will generally sit on the market for long periods of time and end up being discounted to sell it. In my opinion the most important consideration is the future resale.