INDEPENDENT NEWS

No immediate answers from Housing Stocktake

Published: Mon 12 Feb 2018 04:50 PM
No immediate answers from Housing Stocktake
“The NZPIF agrees with the authors of the Housing Stocktake released today that private rental housing will continue to feature prominently in our future housing landscape”, says Andrew King, Executive Officer.
“The Housing Stocktake does not have any new information, but it is interesting to have it in one place,” he says.
However there are some questionable arguments raised in the report. It states that renting has become less affordable since the 1980s, yet rental costs as a percentage of incomes has reduced from 42% in 1985 to 32% in 2015.
A graph from the report also shows that wage growth has mostly been ahead of rental price growth since 2008 and it is only in the last few years that rental price growth has exceeded wage growth.
“The key reasons we are seeing the fall in availability over the past few years is that providing rental property has become progressively more difficult over that time,” says King.
Increased regulation, higher costs, larger deposit requirements and a generally negative attitude towards the people who provide homes for tenants has led to some landlords exiting the industry. This leads to reduced availability of homes for tenants and to higher rental prices as demand exceeds supply.
Even without new regulations and cost increases, it is difficult to see how the required increase in rental property supply will be achieved.
ENDS

Next in New Zealand politics

Housing NZ to right meth testing wrong
By: New Zealand Government
Meka Whaitiri removed as a Minister
By: New Zealand Government
Making history for women’s pay in New Zealand
By: New Zealand Government
Celebrating NZ as a trailblazer for women
By: New Zealand Government
Refugee quota increases to 1500 in 2020
By: New Zealand Government
Standards system reassurance sought
By: New Zealand Government
Heart put back into social housing
By: Green Party
Government shouldn’t be compensating crooks
By: New Zealand National Party
Review finds meth standard not improperly influenced
By: Ministry of Business Innovation and Employment
Meth eviction compensations don’t account for social harm
By: Auckland Action Against Poverty
The ongoing effects of the 0.5 meth standard
By: NZ Property Investors' Federation
Two Ministers Down, Nine More To Go
By: ACT New Zealand
Unions celebrate Suffrage Day win for women
By: New Zealand Council of Trade Unions
E tū welcomes Suffrage Day equal pay bill
By: E tu
Legislation another milestone in pay equity journey
By: NZNO
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media