Property

Govt ignored HUD advice on measures to deter landlords

Jenny Ruth
Thu, 29 Apr 2021

Govt ignored HUD advice on measures to deter landlords

Housing Minister Megan Woods was advised not to remove interest deductibility (Getty Images)

Jenny Ruth
Thu, 29 Apr 2021

The government ignored advice from officials when it imposed a raft of new measures in March to stem house price inflation by deterring landlords.The Ministry of Housing and Urban Development advised the government in December not to remove the deductibility of mortgage interest for existing landlords because of the likely negative impacts on tenants.Those predicted negative impacts included higher rents and the displacement of existing tenants if landlords decided to sell their properties.That advice from the ministry to housing minister Megan...

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Govt ignored HUD advice on measures to deter landlords

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