Yes, and this is why rents won’t come down because now the genie is out of the bottle we have to allow for it next time the left get in. So they have permanently pushed rents up with their posturing.
BTW is that traditional Maori headwear or cultural appropriation. Maybe someone said something...
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That is less than 5% pa compounded which seems low at the moment! You could base it on property inflation index but I think that might be even higher!...
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I for one will not trust that this won’t happen again once Labour gets back in so we’ll always factor it in from now on. Previously no one had considered that the government might do this. Possible capital gains tax, yes, but that would be paid from sales proceeds so wouldn’t affect cashflow....
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