Buying guide
What are the changes to the Brightline test, and what will they mean?
What do the experts think?
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AI summary
The Brightline test period for residential property is reducing from 10 years to 2 years, effective July 1, 2024. This change removes the tax on profits for most properties sold after this date if they have been owned for over two years.
Experts from Opes Partners and CoreLogic predict this will increase listings, particularly from investors. This will likely maintain a buyer's market, giving buyers more choice and negotiating power, while sellers may need to be more 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?
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