While the cost of building (parts and labour) remains high and unlikely to come down any time soon, if ever, there is little chance of property becoming significantly cheaper to accommodate the young, working proletariat, Wiskers. Apartment living in and around cities is absolutely necessary to avoid encroachment into agricultural areas. And generally speaking, they are cheaper than homes for 'air space' reasons - notwithstanding luxury apartments with views of the sea and the world beyond. But yes, NG is not necessary on this class of investment, given rental returns and capital gains should be sufficient. A reasonable tax on holiday homes and vacant homes to be used only for building public housing might solve a part of the problem. All that said, when it comes to residential property there are many complexities and unforeseen effects down the line to consider with caution.
