Budget not driving property investors away

A survey by property investment website Landlords.co.nz and Mike Pero Mortgages shows that investors are not happy with the changes to tax and depreciation that Finance Minister Bill English unveiled in his Budget last month.

However, only a small proportion of respondents are looking to sell up their properties. Twelve percent of respondent are considering selling their properties and just 1.7% said they are definitely exiting the property investment market.

The large majority of investors will continue to be landlords and 21.4% said they will be buying more property.

The winners out of the Budget are advisers such as accountants.