A capital gains tax to sort Auckland house pricing problems is a stupid and unfair idea. Such a tax would affect the whole of NZ unfairly. Quite simply, any house bought as an investment would be recorded as a second or third home on the deeds or whatever.

And on a completed sale of such a house the profits would be taxed by the lawyers and paid into Government before the owner was paid - somewhat like PAYE, simple, clean and fair.

A Bourne, Bethlehem.