23 Mar 2021

Govt housing package announced

From Nine To Noon, 9:09 am on 23 March 2021
An auction sign outside a house for sale in Auckland.

Photo: RNZ / Claire Eastham-Farrelly

The government has announced a raft of changes aimed at curbing the overheated housing market and helping first home buyers.

The multi-billion dollar package will see the bright-line test doubled, interest deductibility removed for property investors, and an increase in income caps for First Home Grants and loans.

There is also 3.8 billion dollars of funding for roads and pipes to unlock more land for housing development.

RNZ Political reporter Yvette McCullough outlines the main points, and Kathryn gets reaction from Infometrics Economist Brad Olsen, and Sharon Cullwick of the Property Investors Federation.