Economists have played down property investors’ warnings of rent hikes – because tenants are already so stretched that the market won’t sustain any further rises. So now a publicly-funded research project is investigating just what is affordable.
The Parliamentary letters secretary for Associate Housing Minister Poto Williams will be kept busy this month. Advocacy group Renters United is encouraging tenants whose rents have been raised to send the minister a “bill”, detailing just how much the increased rent is taking from their grocery budget.
The campaign has upset the Auckland Property Investors Association, which says fake rent bills “cheapen the real struggle ordinary Kiwis face amidst skyrocketing living costs”. Its parent body surveyed 1719 landlords this month: 76.8% of the respondents said they would probably increase rents on their properties, by $21 to $30 on average.
Whatever the politics, it seems all agree: getting into a home has become unaffordable.
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