Hundreds of thousands of jobs rely on the turnover of housing stock in this country, says property commentator Olly Newland.
He says those who say that investment in property should be discouraged because it is not productive for the country’s economy are wrong.
"Every time a property changes hands, there’s carpets, blinds, drapes to be done. Slowing the market would have a huge knock-on effect to unemployment. Maybe it’s not exports but if someone has a $50,000 or $100,000 deposit, what can they do in the export market? I don’t know.”