Tax fears see property investors selling up ahead of the election
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An expert believes some property investors are selling up ahead of the election.
Data from property analysts Cotality NZ shows the proportion of properties resold for a gross profit has fallen to its lowest level in almost 14 years.
The median length of time people are holding on to properties that sold for a profit hit record numbers, at almost 10 and a half years.
Property Investors Federation Advocacy Director Matt Ball told Ryan Bridge there are fears of being taxed on inflation.
He says some people are worried about the election and getting out ahead of time, while others are sitting tight and watching nervously.
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