Buying guide
What are the changes to the Brightline test, and what will they mean?
What do the experts think?
.png)
AI summary
The government is reducing the Brightline test period for residential property from ten years back to two years, effective from July 1, 2024. This means tax on sale profits will only apply if a property is sold within two years of purchase.
Experts from Opes Partners and CoreLogic predict an increase in listings as investors may choose to sell. This will likely keep it a buyer's market, offering more choice and negotiating power, while sellers may need to be realistic on price.
What is the Brightline test?
What are the changes to the Brightline test?
The Brightline test period is reverting to the original two years.
Exemptions to the Brightline test
What will the changes to the Brightline test mean for the NZ property market? Q&A with the experts
1. Starting at the broad level, do you have any general expectations for what the changes to the Brightline test will mean for NZ’s housing market?
Home buyers will see more choice in the housing market due to the Brightline changes.
2. What impacts do you think the changes could have for first home buyers?
3. How will the changes impact investor behaviour?
If you're looking to sell after the changes, now's the time to start taling to an agent.
4. What will the Brightline test changes mean for non-investor sellers?
5. How long will the immediate effects of the Brightline changes be felt for?
Author
Discover More
A casual chat on the way to work helped one couple build their dream home ‘oozing’ with character
A Days Bay couple transformed a 1926 cottage into a character-filled dream family home.
A historic landmark in a ‘ridiculously amazing’ small town gets a new lease of life
Historic Lawrence landmark gets a stylish new life as a modern home, blending heritage features with interiors.
Search
Other articles you might like
