You read it here first folks. Now Granny Herald has picked up the story as if it was something that nobody knew about until now. Had the Herald read my website they would have known of the “crisis” months ago. I have been predicting this shortage for a long time, as you know.
But what is the flow-on from the “crisis” ?
Answer: Rising property prices, and rising rents, throughout the established areas of Auckland (not to mention bigger and bigger headlines!)
But it’s not all in melt down. Investors can always get provide cheap rents in the poorer suburbs of South Auckland if they don’t mind long motorway hold ups, higher crime statistics, gang head quarters on every other street and a large part of the population high on and drugs.
The NZ Herald: Auckland rent crisis at record high
14 March 2012
Auckland’s rental crisis has intensified – average weekly rent for a three-bedroom house has jumped $55 in a month and rents in popular suburbs have risen 25 per cent in the last year. …