... as Hawke's Bay investors sell-up
In the past year, the Miller family have gone from home to home and are now looking at their fourth move inside 12 months, as investors desert the Hawke's Bay market.
Just a little more than a week after National leader Simon Bridges claimed mum and dad investors were being driven out of the property market by the "like it or lump it" approach to property regulations, Hawke's Bay families are starting to show what that looks like.
Bridges put the exodus of investors down to a raft of "poorly thought through policies", including extending the bright-line test, ring-fencing of losses, "more burdensome regulations", the ban on foreign investment and, the threat of a capital gains tax.
Working mum of two Rachel Miller said she was not sure of the cause - but she knew what it looked like - and how it felt.
“The Housing and Urban Development Minister pointed out that while rents were going up in some parts of New Zealand, they had been rising for the past five years. He claims that “National is simply scaremongering by suggesting landlords are selling up”.”
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