With 18,600 gain in people coming into the country over people leaving the country last year during a recession, one might expect a building boom. However the GOVT are making silly noises about a capital gains tax on property owners, which should see a great rush towards the door.
It is my view that it matters very little in the broad term who actualy owns property.
It is in the GOVT interest that we all rent allowing them to tax landlords.
It is the mum and dads interest to have a safe haven for their savings rather than trust all the dodgy snout in the trough business people in this world.
Property in a rising population, should increase higher than inflation, however if we all rush in to buy to become rent free as a method of saving for the future then we cant have that can we ?.
Money to buy property is far cheaper to be run by private individuals, rather than from the council or the state where added running costs far exceed what mum and dad private ownership can acheave.
With any luck which I doubt they wont wreck the last safe haven for mum and dad investors. Macdunk