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

 

Copper Broadband: Regulator Set To Keep Chorus Pricing Largely Unchanged

The Commerce Commission looks likely to settle on a price close to its original decision on what telecommunications network operator Chorus can charge its customers, though it probably won’t backdate any update. More>>

ALSO:

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Food: Govt Obesity Plan - No Tax Or Legislation

Speaking to Q+A’s Corin Dann this morning, health minister Jonathan Coleman said tackling obesity was at the top of the Government’s priority list, but there was “no evidence” a sugar tax worked, and further regulation was unnecessary. More>>

ALSO:

Treasury Docs On LVR Policy: Government Inaction Leads To Blurring Of Roles

The Treasury wouldn’t have had to warn the Reserve Bank to stick to its core functions if the Government had taken prompt and substantial measures to rein in skyrocketing Auckland house prices, Labour’s Finance spokesperson Grant Robertson says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news