A capital gains tax will do nothing to cool the Auckland housing market, according to the Property Investors Association.
A capital gains tax will not cool an overheated Auckland market, says the Property Investors Association. Photo: 123RF
The Reserve Bank this week called for fresh consideration of property taxes.
President of the Auckland Property Investors Association, Andrew Bruce, said that was not the answer for the typical investor.
He said that was because they hold on to properties, rather than sell them, and that it would only work for speculators, of which he does not think there are too many.
Mr Bruce said the government instead needed to accelerate the freeing up of more land.