The Rental Famine -The Screws Tighten

I have warned repeatedly  of the coming shortage of rental property and rising rents – provided the properties are in decent areas.

Here we have more evidence of the coming rental famine, caused by a shortage of new houses, the leaky homes disaster and the Christchurch tragedy-not to mention loopy new tax disincentives .

Renters face frantic contest
By Russell Blackstock
Sunday Dec 4, 2011

Frantic families and couples are struggling to find rental homes in Auckland’s crowded market during what should be a quiet time of year.

Letting agents expect activity to get even more furious in the run-up to Christmas and are already complaining they cannot fill demand.

“You feel for people when they are competing with sometimes dozens of others at viewings,” said Susan Wendell, owner of Wendell Property Management in Sandringham.

Read the rest here:

http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=10770682

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