Thirty dollars a week increase in rent over the past year is 'real', property commentator says

National claims the median New Zealand rent has increased by $30 a week over the past year.

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Ashley Church told TVNZ’s Breakfast he can sympathise with Simon Bridges’ claims as there are a lot of factors driving up the prices. Source: Breakfast

That’s in contrast, they claim, with an average yearly increase of just $12 for each of the nine years National was in power.

Property commentator Ashley Church told TVNZ’s Breakfast he can sympathise with what Mr Bridges was saying and says the figures are "real".

“Those figures are robust, they come from MBIE, that $30 per week increase is real.”

Some of the factors conspiring to increase rental prices, Mr Church says, is the threat of a capital gains tax and ring fencing tax losses.

“These are already playing in the minds of landlords.”

He said the solution is to stop doing things that scare landlords out of the market.

“The way to fix the problem is to increase the supply of rentals dramatically and the way you do that is you get more people investing in property.”