TradeMe data showing median rents have again hit a new record-high demonstrates Labour’s complete failure on housing, National’s Housing spokesperson Chris Bishop says.

“Labour keeps smashing its own records when it comes to rent increases and it couldn’t come at a worse time, with the cost of living crisis squeezing Kiwis harder every day.

“Families are already being hit in the pocket by higher petrol prices and spiralling grocery bills, let alone record-breaking rents.

“Labour constantly tries to blame the cost of living crisis on events overseas, but TradeMe data shows rents are actually growing faster than the average rate of inflation. Skyrocketing rents driven Labour’s housing failure is just more fuel on the cost of living fire.

“This is the predictable result of Labour’s plan to remove interest deductibility and extend the bright line test. Officials warned the Government that this would just increase rents and worsen the housing crisis, but they ignored the advice and ploughed ahead anyway.

“Now low and middle income families are suffering from their arrogance.”

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