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Masterton Rents Set to Rise under Labour

Masterton Rents Set to Rise under Labour

ACT’s Wairarapa candidate Roger Greenslade has expressed concern at Labours announced changes around rentals and the negative impact it will have on renters in places like Masterton.

“Labours proposed changes to remove negative gearing, banning letting fees, restricting how landlords can rent their properties and introducing a capital gains tax will only make it harder to find a home to rent and drive the average rent price even higher.”

Roger has previously worked as a Real Estate agent in Masterton, is a past President of the Wairarapa Property Investor Association and is a current landlord. He has seen the effects of previous interventions in the property investment market.

“When the Reserve Bank brought in the higher LVR for rental properties there was a noticeable decline in properties sold to investors in Masterton. As a result, more properties were being purchased by first home buyers, however the demand for rentals has not decrease. This has resulted in a shortage of homes available to rent and the median rent for a three-bedroom home in Masterton rising from about $270 per week to $310 per week over the past two years.”

“Property Investors perform an important role in providing rental homes in the economy. We need to be encouraging investors to purchase more homes to rent rather than introducing policies and taxes that will discourage investors.”

“Labour in true form is targeting the productivity of hard working individuals by appealing to the masses while hitting out at the investors that are incorrectly labelled the problem.”


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Election Day Results

2017 General Election - Preliminary Count

National won 46% of the vote with Labour on 35.8%.

NZ First won 7.5%, with the Greens on 5.8%.

ACT held on to Epsom, but failed to get more MPs.

The Maori Party were wiped out of Parliament.

There are still special votes to be counted, but clearly National is in the box seat to form the next Government.

The Greens can not contemplate a deal with National.

So, Winston Peters will have to make a choice and could back National or a combined Labour/Green coalition.

The most likely result is National and NZ First will reach some sort of deal to form the next government.

Election Night Results

Advance Voting Statistics

General Election Information: Voters - Who, When And Where


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