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20 Oct 2021 4:11
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  •   Home > News > Politics

    The Government says new property laws will help increase the supply of housing so won't push rents up

    The Government says new property laws will help increase the supply of housing so won't push rents up

    The interest deductibility rules for landlords were signalled in March, but were only released yesterday, and will come into force on Friday.

    Investors will be able to claim interest on new builds for up to 20 years, and owner-occupiers who rent rooms out will also get the interest back.

    Revenue Minister David Parker says rents have gone up by 10 percent over the past year, but it was even worse in previous years.

    He says in Auckland the number of houses has gone up 90 percent since 2017, which is the most important thing.

    © 2021 Newstalk ZB, NZCity

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