It takes a while for the message to sink in but step by step the crisis in housing, especially in Auckland, gets worse. Readers of my columns will know that I have been predicting this for over a year now so it will come as no surprise.
And I will make another prediction right now. Nothing at all will be done. Instead we will lurch from one crisis to another and the situation will continue to deteriorate.
If you are an investor you could do very well but you won’t be thanked for it by the masses.
Just grin and bear it because it’s yet another hazard of the game.
Some renters struggle to find place to live
Rising rents across most of New Zealand appear to be pushing some potential tenants to look at buying a house instead.
Rental prices across the country rose 4 per cent in the three months ending March from the same period a year ago, according to the latest figures from online auction site Trade Me.
The number of rental properties advertised fell 7 per cent over the same period, while enquiries or demand rose 9 per cent.
Christchurch was the clear standout due to earthquake-related shortages. A 40 per cent decline in rental supply resulted in a 15 per cent spike in prices, with demand up 42 per cent on a year ago.
Outside of Canterbury, central Auckland saw a 7 per cent rise in rents from last year, although supply increased by 3 per cent and demand was flat.