Photo: Supplied / James Munro
A capital gains tax would not have raised much money in the last 4-5 years, property data firm Cotality says.
Its latest monthly housing chart pack shows national median property values were flat in the three months to October and still 17.3 percent below their peak.
Between October 2023 and October 2025, the national median price only lifted from $802,112 to $811,662.
Labour has proposed a 28 percent capital gains tax on residential investment and commercial property from a valuation day in 2027.
Cotality chief property economist Kelvin Davidson said the market was steady.
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