The Government's being told to rethink proposed housing investment changes

Under new laws, those who sell properties within 10 years must pay tax on any gains, and can't claim mortgage interest as an expense.

The First Home Buyers Club, Tenants Protection Canterbury and the Property Investors Federation have written to the Government, saying the move will disproportionately affect renters.

First Home Buyers Club Director Lesley Harris says it'll hold back renters trying to save up for their first home.

She says the Government should instead lighten the load for first home buyers - by making it easier for to get mortgage funds for a home.