Ged Cann

Oct 12, 2023 | thepost.co.nz | Ged Cann

The impact of $4.9 billion of sales to foreign buyers on house pricesThe National Party plans to hand back $2.1 billion​ in tax breaks to investors over 4½ years as it phases mortgage interest deductibility back in, but it's unclear if mum and dad investors, or mega landlords, will benefit most from the policy. This is because data on the amount of debt carried by different types of investors (such as mum and dad investors, and mega landlords) is lacking.

Oct 10, 2023 | thepost.co.nz | Ged Cann

AI may spot you speeding past road workers in futureRoad workers may be watched over by AI-powered cameras in the future, which can automatically spot safety issues and when drivers are ignoring temporary speed limits, and text warnings to crew leaders. The project, dubbed Guardian Angel, is a collaboration between Kiwi tech company Rush and infrastructure company Downer.

Oct 5, 2023 | thepost.co.nz | Ged Cann

CoreLogic chief property economist Kelvin Davidson said debt to income ratios (DTIs) currently expected to be imposed by the Reserve Bank in April would largely block this route to property accumulation. “It’s very different from the LVR (loan to value ratio) system, where if the market goes up, and you already own a property or two, that sort of creates your next deposit, and you can keep buying if the market rises.

Oct 4, 2023 | thepost.co.nz | Ged Cann

The impact of $4.9 billion of sales to foreign buyers on house pricesHalf of property investors are reliant on the tax advantage of mortgage interest deductibility to make their rentals work, according to industry commentators. Auckland Property Investors Association (APIA) general manager Sarina Gibbon​ described 50% as a “conservative estimate”. ”I think it’s going to hit people who got in during the last 10 years or so, especially the ones who jumped in during the Covid-frenzy,” Gibbon said.

Oct 2, 2023 | thepress.co.nz | Ged Cann

In Wellington City, this would mean roughly 8%, or 5656 properties, are likely to see price jumps as the owners attempt to attract foreign buyers to get the highest price, and in the wider Wellington region, that figure sits at almost 5% of homes. Sales above $1.7m in the year to the end of June 2023 were: Porirua 13, Upper Hutt 8, Lower Hutt 21, Wellington City 16 and Wellington Area 203.