How the incoming Government can help NZ tenants”
The recent ‘Sunday’ television report on Queenstown's rental housing shortage highlighted a nationwide issue in New Zealand: the diminishing availability of rental properties. An analysis of the tenancy services data shows a consistent decrease in new rental bonds since 2013, with a significant drop from 2019 onwards.
As of March 2023, there are 402,195 active rental bonds, indicating a stagnation in the growth of the rental housing stock. With immigration increasing, a serious shortage in rental properties looms.
To address this, the incoming government should take several immediate actions:
The housing policies of the previous government have had adverse effects on immigrants, families and young people who rely on rental housing. It's crucial to reverse these policies to ensure access to basic needs like housing, which is essential for the country's overall prosperity. This aligns with the understanding of human needs for stability and shelter, as highlighted by Maslow's hierarchy, and is acknowledged by political parties like ACT and National in their campaigns.
Contrary to some economists' views, investing in housing should be seen as a fundamental enabler of a thriving society.
Statistics are from the Bond Centre, Tenancy Services
NZPIF Executive Committee Member
Ph 021 992628