Property managers need to be reined in, realtor organisation says

Property managers need to be reined in, realtor organisation says
Profit driven: new build-to-rent complex at Sylvia Park. (Image: Kiwi Property)
Brent Melville
One-third of New Zealand's two million residential dwellings are rentals and home ownership is at its lowest level in almost 70 years, according to data from Statistics NZ.A growing "nation of tenants" is being led by Auckland, where more than half of adults live in rental accommodation, a number that Stats NZ expects to rise to 60% within the next 20 years.That's as affordability – as a measure of household salaries versus house price – sits at close to 11 times in the city, according to data from property analyti...

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