Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


No evidence of 150% rental price increases in Christchurch

To: The Editor, Scoop


Dear Editor

Media Statement for immediate release

11 March 2011

No evidence of 150% rental price increases in Christchurch

Calls for rental controls due to 150% increases in Christchurch rental prices have been dismissed by the New Zealand Property Investors Federation.

“We don’t know where these claims of 150% rent increases have come from” says Federation President and Christchurch Property Manager Martin Evans.

“It is malicious to make these claims in order to influence Government in an attempt to have rent controls imposed” says Evans.

“The Federation and the Canterbury Property Investors’ Association have not heard of anyone taking advantage of the earthquake and increasing rents by such amounts.”

This view is backed up by Trademe Property Manager Brendan Skipper, who says that they haven’t seen any evidence of such rental price increases in the Canterbury area.

A survey of rental property listings in Christchurch did show a significant drop of 22% on the Friday following the quake and a further drop of 12% the following week. However listings have since increased by 18% and as of today there are 1045 rental properties advertised on Trademe.

Rental property providers are facing large losses because of the quake, due to nervous tenants abandoning their rental properties even though they are sound.

“Tenants are just leaving without telling us” says Evans. “We only find out that they have gone when the rent doesn’t come in.”

Compounding the problem for both landlords and tenants is that the Department of Building and Housing office and the Tenancy Tribunal in Christchurch are still not operational. “We can’t get eviction orders when properties are abandoned at a critical time when others are desperate for a rental property because their own home is uninhabitable. Given the extreme situation, we are forced to take matters into our own hands just to help people get housed and to stop our owners from losing any more money” says Evans.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Building Battle: Bill English Blames Council On Housing

The Nation: Finance Minister blames Auckland Council for housing shortage, saying it is responsible for land, housing and infrastructure supply in the city, while government provides rental subsidies... More>>

ALSO:

Megiaglommeration: NZME And Fairfax Apply For Authorisation To Merge

The Commerce Commission has received an application from Wilson and Horton Limited (trading as NZME) and Fairfax NZ Limited seeking authorisation to merge their media operations in New Zealand. More>>

ALSO:

Brewing: Lion To Buy Cult Upper Hutt Brewer Panhead

Lion - Beer, Spirits and Wine (NZ), New Zealand's biggest beer maker, has agreed to buy Panhead Custom Ales from the family of founder Mike Neilson, its second such purchase of a popular craft brewer after the acquisition of Dunedin-based Emerson's Brewing Co in 2012. More>>

ALSO:

Half Empty: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Pest Control: Mouse Blitz Team Leaves For Antipodes

The Million Dollar Mouse project to rid Antipodes Island of mice is underway with the departure of a rodent eradication team to the remote nature reserve and World Heritage Area. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news