“After years of relentless increases, rents are finally falling across much of New Zealand. That’s not an accident, it’s the result of a Government willing to ditch failed ideology and focus on what actually works,” says ACT MP Dr Parmjeet Parmar.

“For too long, Labour and the Greens treated landlords as the enemy. They piled on costs, removed basic rights, and tried to regulate their way to affordable housing. The result was predictable – rents skyrocketed, and renters paid the price.

“ACT consistently warned that you cannot improve outcomes by attacking one side of a transaction.

“By restoring mortgage interest deductibility and rebalancing tenancy laws, we’ve reduced the risk of providing a rental. When more homes are available, renters have real choice. And when renters have choice, they have bargaining power.

“New data from realestate.co.nz confirms rents are cooling across the country. Nationally, the average rent sits at $631 a week, down 1.4% compared with April last year, and nearly $30 below the peak of $660 recorded in May 2024.

“We are seeing this play out in the real world. The Post reported this week on a Wellington family who asked for a rent reduction, were refused, and simply found a better deal elsewhere. Their previous home is now back on the market at a significantly lower price.

“That is competition delivering results for renters.

“New Zealand works best when we reject divisive, zero-sum class warfare. Landlords and tenants are not opponents. When the government gets out of the way and lets the market function, both sides win.”

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