National says changes to developing build-to-rent houses are long overdue

The Government is giving developers tax relief, as long as those homes are held as long term rentals.

National is proposing a bill that would see these developments treated as commercial properties, and exempt them from some aspects of the Overseas Investment Act.

Housing spokesperson Chris Bishop, says the sector has been calling for these changes for quite some time now.

He says it's taken Labour five years of fluffing around to get on with it, and says they could make these changes very quickly.