Anton Jones, owner of First National in Mount Maunganui, Tauranga and Omokoroa, will be keeping a keen eye on policy announcements from NZ's new government. Photo/file
Anton Jones, owner of First National in Mount Maunganui, Tauranga and Omokoroa, will be keeping a keen eye on policy announcements from NZ's new government. Photo/file
Tauranga's mayor and property and business industries will be keeping a close eye on policies following last night's massive shake-up of Parliament.
Mayor Greg Brownless said that now Tauranga had three MPs in the new Government, he hoped the city would get its fair share of interest from Government tohelp sort out the many growth-related problems, including transport and roading.
He hoped New Zealand First would keep its election promise to return the GST from international tourists to the area the money was spent. It had the potential to boost the council's coffers by $22 million a year.
In the property market, First National Tauranga owner Anton Jones said there was a risk that the market could be flooded with rental houses as property investors moved to avoid changes to rental regulations and investment taxes.
However, he said it depended on the degree to which Labour Party policies survived the coalition talks with New Zealand First.
Tauranga Chamber of Commerce chief executive Stan Gregec. Photo/file
Labour had campaigned on abolishing letting fees, extending the time landlords could evict tenants from six weeks to 90 days and extending the period that investors had to own a house before they incurred a tax on the sale proceeds. It could go from two years to five years.
'It will be an interesting time... we will have to wait to see if changes on policy details emerge.''
Mr Jones said tightening immigration policies could have a big impact on the housing market.
Overall though, he expected that the new Government would have little impact on the current flat real estate market.
Tauranga businesses were cautious about the announcement.
A Zespri spokesman said the company had followed the news closely regarding the formation of the future New Zealand government.
"Zespri and the New Zealand kiwifruit industry have appreciated very strong relationships and support from successive governments and we are looking forward to the opportunity to engage with the government."
Tauranga Chamber of Commerce chief executive Stan Gregec said earlier in the day that businesses did not like things "being up in the air".
"Businesses are looking for certainty and stability. We've already had a long enough hiatus while Winston and his crowd have been making up their minds. So I hope today there's a decisive outcome, whichever way NZ First goes."
