1. Post-Election Optimism: Election night came and went on October 14, 2023, and from what I have hear there seems to be increased confidence in property investment circles. The air is thick with anticipation as we await the final government makeup and the specifics of policy changes. My hunch? We'll likely won’t see any shifts prior to April 1, 2024.

2. Interest Deductibility Alert: Keep a close eye on the far-reaching effects of the Interest non-deductibility rules. We recently witnessed a rental property company draw down a loan secured against its existing rental properties. Surprisingly, when the owner personally redirected this loan into another business venture, none of the interest became tax-deductible for the rental property company. With rising interest rates, this adds an extra layer of complexity for taxpayers.

3. Hawke's Bay Property: Tony Alexander's October 2023 Regional Property Insights highlight the evolving Hawke’s Bay property landscape. Notably, there are no clear signs that the local price declines have bottomed out just yet. In the third quarter of 2023, our regional prices experienced a 3% decline, while the national figures showed a contrasting 1.8% increase. It's a dynamic market, no doubt about it.

Stay tuned for more exclusive property insights from our team. And remember, your property queries are always welcome!