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More rent increases hurt New Zealand families

11 February 2019


Median rents have climbed another $10 a week, with New Zealanders now paying $40 a week more to put a roof over their families’ heads as a direct result of this Government’s poorly thought through policies, National Party Leader Simon Bridges says.

“This Government continues to drive up the cost of living. Median rents have risen by another $10 a week in the last month alone, bringing the total increase under this Government to $40 a week or more than $2,000 a year.

“That’s $40 a week less that New Zealand families have to spend on other essentials like groceries, petrol and electricity. Households are having to work longer and harder just to stay still as the cost of living continues to climb and the Government moves to drive it up further.

“In dollar terms, rents have risen 2.5 times faster under this Government than the previous National-led Government.

“This is the direct result of poorly thought through policies like extending the bright-line test, imposing more regulations on landlords, banning foreign investment and the threat of a capital gains tax. All of these policies discourage private rentals and drive up rents.

“These policies are hurting the third of New Zealanders who don’t own their own home, and it is affecting our poorest the most.

“These are not the actions of a kind and compassionate Government, but rather a naïve and irresponsible one.

“National is focused on keeping the cost of living down and ensuring New Zealanders have more money in their back pockets to help them get ahead. We will keep taxes lower and manage the Government’s books responsibly and grow the economy to deliver higher wages and a better standard of living.

“Right now we have a Government that is just costing New Zealanders more.”


ends


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