Govt study finds rent inflation 'directly linked' to wages

Govt study finds rent inflation 'directly linked' to wages
Sylvia Park's 295-unit residences could help stabilise nearby rental prices. (Image: Kiwi Property)
Brent Melville
Increases to the minimum wage and ongoing salary hikes were a direct contributor to home rental hikes, according to a new report from the New Zealand Treasury, Ministry of Housing and Urban Development and the Reserve Bank.The paper, authored by the housing technical working group’s Alan Bentley, Enzo Cassino and Nam Ngo, found that wage inflation and housing supply and demand were more accurate barometers of rent inflation than house prices alone, which could be driven by supply restrictions and interest rates.While mortgage interest rat...

More Property

Triple Connection faces liquidation
Property

Triple Connection faces liquidation

The debt collector says the company "don't pay their bills".

Gregor Thompson 13 Dec 2024
Beachlands South development appeals settled
Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024
Winton 'stands to gain millions': MP
Property

Winton 'stands to gain millions': MP

The proposed fast-tracking of Sunfield is 'cronyism', local MP claims.

Maria Slade 11 Dec 2024
Olliver avoids bankruptcy – for now
Property

Olliver avoids bankruptcy – for now

A bid by BNZ to bankrupt the developer has been adjourned until February.

Maria Slade 10 Dec 2024