The Bay of Plenty and Wellington have tipped out of the $1 million house price club.

Changes to the rental housing industry, while intending to improve opportunities, have made renting much worse for tenants and the New Zealand Property Investors Federation has a five point plan to fix it.

The Government’s changes to property investors’ interest deductibility might already have breached Revenue Minister David Parker’s Tax Principles Act he wants made law.

The ANZ says it wouldn’t be surprised if house price growth turned negative for a time in all the country’s regions.

Although investors are not pulling away from the housing market in droves as feared they are not buying again either even though there is an easing of the credit crunch.

Rents around the country are rising at the same rate of record inflation and hit a median of $575 a week in March.

A surge in new building consents is piling extra pressure on New Zealand’s construction industry, with annual costs increasing 7.3%  - a record, eclipsing 2017’s fourth quarter cyclical peak of 6.9%.

Visitors passed through mirrored rooms with umbrellas suspended from the ceiling and took photos of the pop-up space that opened for a short time at the end of last year but had nothing for sale.

The most significant shift in Auckland’s property market last month was the growth of property listings, data from Barfoot & Thompson, the city’s biggest agency, show.

Wellington switched to a buyers’ market last month, while Auckland might soon follow.according to the Real Estate Institue.

The tax changes phasing out interest deducibility for residential rental properties is now law.

A Rotorua landlord was surprised to find ETB Realty let his property to a tenant who had to pay exemplary damages for smoking methamphetamine at her previous flat also rented to her by it.

The amount investors borrowed tipped into the billions again in February after dropping back to $812 million in January. The last time investor’ borrowing fell back to the millions was in February 2020.

Although the ANZ Bank has lifted its prediction of house prices falling to 10% from the 7% it forecast last month, it says its optimistic view is any greater drop will be tempered by household incomes.

An attempt to evict a tenant has floundered at the Tenancy Tribunal despite methamphetamine being used at the rented house.

The new fear in the housing market is one of over-paying (FOOP) .