Skyrocketing Wellington rents pile on the pressure

new-zealand-labour-party

Wed Feb 08 2017 13:00:00 GMT+1300 (New Zealand Daylight Time)

Skyrocketing Wellington rents pile on the pressure

Wednesday, 8 February 2017, 4:59 pm
Press Release: New Zealand Labour Party

Grant Robertson
MP for Wellington Central
Finance Spokesperson
Employment

MEDIA STATEMENT

8 February 2017

Renters in Wellington already struggling with a shortage of accommodation, are feeling more pressure with rents rising nearly seven per cent last year, Wellington Central MP Grant Robertson said.

“Every day I am hearing horror stories from people trying to find a place to rent, and from those already in rental properties who are seeing their rent ratcheted up. Figures released today by Trade Me show that median weekly rents rose 6.8 per cent to a new record of $480 a week.

The rent on a typical property has gone up $1500 a year in the last 12 months. That kind of increase is far in excess of pay rises and even harder for students living on loans or allowances.

“There is a massive shortage of accommodation in Wellington and this is seeing renters exploited with on-the-spot auctions for properties and tenancies being ended in order to allow for a big increase in the rent. This is unfair.

“This is all the result of the housing crisis. Many people are finding it harder to buy a house and therefore are staying in rental properties for longer. This is decreasing supply and in turn putting pressure on state and social housing, which is already at capacity. The National government has completely failed to address these issues, but Labour is committed to Kiwibuild that will see thousands of affordable homes built in Wellington as well as more social housing.

“Labour is committed to a fairer deal for renters. We will legislate to improve the quality of rental properties, and we will improve renters’ rights to give more security and a fairer deal,” Grant Robertson said.

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