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New data shows rents in Invercargill and Southland have increased dramatically under Labour.
MBIE’s Tenancy Services Rental Bond Data for January 2023 shows that median Invercargill rents now sit at $365 a week, up $165, or 83 percent, from 2017 when Labour took office.
Across Southland rents have gone up by $155, or 62 percent, from $250 in 2017, to a median now of $405.
It’s staggering that rents have increased so dramatically across Southland and, when coupled with food prices and interest rates, it’s easy to see why so many people are struggling.
Recently, I’ve surveyed hundreds of Southlanders, at events across the province over three months, and by far the biggest concern for people is the cost-of-living crisis.
It’s putting families under real pressure and people are genuinely concerned about how they’re going to get by.
I believe Southlanders are now paying the price for Labour’s poorly thought-out housing policies.
The Government was warned that removing interest deductibility on rental properties, and extending the bright-line test, would raise rents – and that’s exactly what has happened.
National would reverse Labour’s interest deductibility and bright-line changes and unlock more land for housing.
We would drive infrastructure investment to create more housing, share the benefits of housing growth with local communities, increase long-term rental options with Build-to-Rent housing, boost social and affordable housing and ensure Kiwis can get mortgages by fixing the Consumer Credit Contracts and Consumer Finance Act, which has cut access to bank lending.
Republished by arrangement.