GRA Blogs

Articles by Matthew Gilligan

New RMA Changes a Positive for Investors

AUTHOR: Matthew Gilligan

POSTED: 20 October 2021

In a bid to seriously address the housing crisis, the Government has announced plans to change the Resource Management Act, reducing red tape and allowing for intensification of housing throughout the country. In my view this is a very positive move.

Labour have the support of National with this proposal, which will allow up to three homes of up to three storeys to be built on most sites without the need for a resource consent. This will cut through outdated local zoning rules that are holding many towns and cities back (many of them are stuck in the 1960s, thinking that everyone needs a big back yard).

It is expected that the new rules will facilitate an additional 48,200 to 105,000 new homes to be built over the next 5-8 years.

Will this result in a housing boom in the regions for larger more developable sites? My guess is yes, and I and several GRA members have been tanking up on land in smaller centres in anticipation of this. I think there is still value in these areas on larger sites, before the market works out the implications of this information. So, readers might profit from taking action on this information sooner than later.

GRA held an RMA changes webinar on 4 November, and you can view the recording here.

While Labour deserves some praise for working with the very commercial people in National on this new policy, I think they should go even further and spread the Auckland Unitary Plan rules across the entire country.

Request a Meeting

Matthew Gilligan
Director

09 522-7955

mg@gra.co.nz

© Gilligan Rowe & Associates LP

Did you like this article? Subscribe to our newsletter to receive tips, updates and useful information to help you protect your assets and grow your net worth. We're expert accountants providing expert advice to clients in NZ and around the world.

Disclaimer: This article is intended to provide only a summary of the issues associated with the topics covered. It does not purport to be comprehensive nor to provide specific advice. No person should act in reliance on any statement contained within this article without first obtaining specific professional advice. If you require any further information or advice on any matter covered within this article, please contact the author.

Comments

Testimonials

To educate you must entertain. Property School was both informative and fun. I could not have coped with a boring session after a day in the office. The things I found most valuable were learning about the property wealth wheel, the value of trusts, credit lines and Life Online (which I will use again in the future). I got a lot out of it and have already recommended Property School to friends. - Peter M - November 2015

Seminars and workshops for property investors, business owners and anyone seeking to create and protect their wealth.

View all our upcoming events

Learn More

Investing in residential property?

Put this at the top of your reading list.

If you're investing in residential property, seeking to maximise your ability to succeed and minimise risk, then this is a 'must read'.

Matthew Gilligan provides a fresh look at residential property investment from an experienced investor’s viewpoint. Written in easy to understand language and including many case studies, Matthew explains the ins and outs of successful property investment.