Originally Posted by
Jay
Probably been said before, what we need is more houses to satisfy demand. It is mainly Auckland and Ch Ch in this country
A few countries have a capital gains tax, hasn't stopped their prices increasing especially in the main cities.
And as has been said before, there is already a tax, it is called Income tax, what the IRD need to crack down on is property speculators who are doing something similar to what was done on Our First home. Buy a house do it up and sell again without declaring the income, I'm sure a few more dollars to the IRD to help with them that would generate a very good return.