An election bidding war has blinded investors to other important economic issues that will affect their wealth.
Elections are all about romancing investors' wallets. With the ballot-box battle under way, we've asked the leading parties what they are offering mum and dad investors. And if you're wondering how this will affect you, we've asked some leading commentators to cook up some opinions.
Issues surrounding investment property have taken a back seat with little noise on the subject - one that affects 375,000 landlords directly, tenants indirectly and also homeowners who count much of their personal wealth and debt in their homes.
Auckland Property Investors Association (APIA) president Andrew King says Labour's review of the Residential Tenancies Act is a cause for concern.
'Of particular worry is the topic of tenant advocates. In Victoria, Australia, 'advocates' receive $2.5 million each year to help tenants. The Victorian Property Owners Association says that most of this is spent on lawyers defending tenants in the Tenancy Tribunal, while landlords are not allowed to have legal representation. It would be grossly unfair if such a situation were to occur in New Zealand.'
The APIA, says King, is in favour of the KiwiSaver scheme's incentives for first-time homeowners, believing it will not artificially inflate the housing market.
However National appeared to be offering more landlord-friendly policies than Labour. 'They have pledged to improve aspects such as direct payment of accommodation supplement and reviewing the imbalance of the act.'
New Zealand First was unlikely to provide any help to landlords as it is against tax reductions. It would like to reduce immigration and would increase the level of state housing.
Act, meanwhile, had always been an active supporter of landlords and sought to redress imbalances in the act that favour tenants.
(Abridged)
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