Buyers are making a conditional offer if the property is passed in.
"We are going to see first-home buyers getting in a much more compromised position."
"I think the market's going to give up some of the gains."
"To this extent, I wouldn't have expected this much."
"You are more likely than not to see rents going up faster than they already have been."
The rule was first introduced in 2015 under the National Government.
An Auckland landlord says he's trying to save for retirement, not exploit the system.
The decision favours owner-occupiers, who on average tend to pay less for properties.
Capital gains made on properties sold within ten years will be taxable.