A YEAR TO REMEMBER IN PROPERTY
Turning back the clocks to mid-2020, we saw Covid-19 and lockdown, rental freezes and experts predicting property price plummets. A year on the market is soaring, with median prices up nationwide by nearly 25% year-on-year (according to REINZ data for April). Landlords have been racing against the clock to get their homes up to standard for the Healthy Homes deadline of July 1. And the Residential Tenancies Amendment Act came into full force on February 11, including the controversial axing of the no-cause tenancy termination provision and roll over of fixed-term tenancies to periodic at the end of the term. Then, on March 23, the announcement of the extension to the bright-line test from five to 10 years, and the removal of interest deductibility on residential investments from October 1. It’s been…