Trade Me data: Weekly rent hits record high of $610, prices soar in Auckland after weather events
New data shows rental prices are continuing to soar, with Auckland now the most expensive region in the country as Kiwis continue to battle the cost of living crisis.
Trade Me’s Rental Price Index for May shows New Zealand’s median weekly rental prices claimed another record high for 2023.
The latest figures show the median weekly rent rose to hit $610 for May, which comes three months after reaching $600 for the first time.
This means tenants are paying an extra $35 a week or $1820 more a year in 2022, according to Trade Me’s director of property sales Gavin Lloyd.
“It appears that after the large pay increases we saw throughout 2022, landlords are still feeling confident to ask for more. But we expect rents to taper off later in the year as landlords respond to stalling wages and tenants’ lack of disposable income. Until then, renters’ wallets will feel the pain,” Lloyd said.
There is an unspoken promise between the neoliberal State and the untaxed capital gains private landlord class that the neoliberal State never builds enough State Houses to alleviate housing desperation so that the untaxed capital gains private landlord class can exploit that housing desperation ON TOP OF getting a $1.5Billion annual subsidy in the form of the Accommodation Allowance EVERY SINGLE YEAR!
So the neoliberal State work hand in glove with the interests of the untaxed capital gains private landlord class to constantly keep desperation in the Housing market by never building enough State Houses WHILE handing taxpayer funded subsidies to the untaxed capital gains private landlord class!
This rigged casino where Landlords can constantly use their own debt to buy more property and out leverage first time home buyers just adds insult to injury.
On top of this, ACT and National want to give that same untaxed capital gains private landlord class the power to evict you at will so they can kick out the smelly domestic renters and exploit the new 100000 migrant workers coming into the country, remove all the healthy home and environmental regulations and put back in place the tax loopholes that benefit the untaxed capital gains private landlord class.
On top of this, the Real Estate pimps are donating hundreds of thousands of dollars to the Right and are dangling the promise of house prices jumping 20% if National and ACT win.
The Housing Crisis is a political decision and you as renters should be incandescent with motherfucking rage at how this has been allowed to continue!
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Slave Labour is doing a pretty bang up job of that with its race-to-the-bottom mass migration policy.
Time to bring your narrative to the 2022s. Actually a path to middle class has been removed with taxes including a capital gains tax (brightline). So less competition more cost. And the fear of missing out means rents will go up every year cause you can only do it once a year.
All that clever policy with completely bad outcomes and it will only get worse as interest goes up as a cost and deduction disappears- Grant Robertson quote from the time the rule changed here please
It won’t happen overnight i.e. before the 2023 General Election–but it will happen…peoples direct action is required.
–occupy ghost houses around the country on an organised basis, they are there in their thousands from the Far North to Auckland to National Park to Queenstown. Everyone knows the dwellings in their neighbourhood that are kept empty on purpose by speculative owners.
–political campaign for rent freeze and rent control
–Capital Gains Tax on more than a family dwelling and one “bach” or holiday home
–political campaign for state house and apartment mega build, using offshore sourced flat packs to stick it to the parasitic local building industry and developers
This will be seriously on the agenda one way or another after the Election–if Labour led wins things will move too slowly, if Natzo led win, the sales of people mover vans (mobile flats) will rise–so there is ample room for a political and community campaign.
Land everywhere last time I looked. Build new towns like the Bed Factory near Huntley. That’s your model. Great job, affordable house, out of rat race. Don’t need slime land Lords and real estate pimps then.
Also move Government department s to provinces. Win win for taxpayer and the consultantancy Leach s will hate it.
if Labour had got its act together and built the 88000 extra houses there would be competition for private landlords .Private landlords have had their costs pushed up by increases in mortgage and rates .They are not a charity so the rents will be set at what the market will pay why would they do it differently
no they aren’t a charity – they are people farming parasites. effing labour and national are neo-liberal cuckolds – the proletariat’s and the bourgeoise wedded together in Marxist bliss
the cost of shelter is crippling this country – if you want someone to blame for the desperation and crime wave – start with 7 houses Luxon and his band of parasites
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