Property Investors' Association Urges Investors To Participate In The Consultation On Interest Limitation
The Auckland Property Investors’ Association Incorporated (APIA) is urging all property investors to take part in the consultation on the “Design of the interest limitation rule and additional bright-line rules”. The submission deadline is 12th July 2021.
APIA is particularly concerned about the lack of investor participation in the consultation process. “Anecdotally we are seeing some level of apathy. That’s understandable given how alienated and shut out investors have been by this government and from its housing policies,” says association president Kristin Sutherland, “Many investors have simply given up trying to be heard.”
However, Sutherland and her organisation insist that investors’ insights and knowledge are crucial if the interest limitation policy is to have a chance at achieving housing affordability. “Affordability is so fundamental and urgent for our housing market that we’ve all got to do our part to get it right,” says Sutherland, “Time and time again, we see ambitious agendas being let down by unintended consequences and a wilful disinterest, if not ignorance, at understanding how the market is motivated.”
Sutherland goes on to say, “The sheer number of design aspects that are being consulted on relegates interest limitation to being yet another haphazardly cobbled together policy. It is clear that the government is going to have to rely heavily on the submissions it receives if it is serious about housing affordability. This gives property investors, those who have skin in the game, a really good opportunity to share their perspectives and limit the negative impacts this policy will have on the housing market.”
Sutherland reminds submitters to copy opposition housing spokespeople into their email submissions. They are Nicola Willis (National) email@example.com and Brooke van Velden (ACT) firstname.lastname@example.org. “Interest limitation, in one form or another, is here to stay at least throughout this term of government,” says Sutherland, “by copying in the opposition parties, submitters are ensuring that their perspectives are channelled constructively to MPs who, in turn, can amplify them appropriately to the public.”
To support broader industry participation in the consultation process, APIA is hosting a submission workshop on Saturday 26th June and developing further resources for investors to continue engaging productively with the government.
The Auckland Property Investors’ Association Incorporated is a non-profit network that educates and supports property investors.