"There is an increasing presence of investors in the Auckland market and this trend is no doubt being reinforced by the expectation of high rates of return based on untaxed capital gains."
Signs of frustration from Reserve Bank officials emerged today when deputy governor Grant Spencer told a housing conference in Rotorua the government needs to take another look at how property is taxed.
Though couched in roundabout
Want to read more? It's easy.
Choose your best value subscription option
Student
Exclusive offer for uni students studying at a New Zealand university (valued at $499).