TeaLeaf:
mattwnz: I am sure people in Wellington would have loved their house prices to have increased 40% in few years.
you mean in a few months? haha.
i think Auck have trebled in a few years and doubled in 6 months? unless the graphs im looking at are wrong.
and back on CGT, who cares if its slippery slope. you dont pay it on your PRINCIPAL place of residence, and its a fraction of your income percentage in OZ and if you are making income buying and selling houses why on earth shouldnt you get taxed?
Imho CGT is a fair tax. With more planned reductions in income tax it is probably necessary as well. But i have to tell you CGT will reduce some volatility (quick buying and selling) but it will have very little effect on price long term.