That 'property investor hate' will have a silver lining. As available rentals decrease and compliance costs increase, rents will rise. Meanwhile as new rules come down the pike, including related to negative net rents, only essential maintenance will be done and tenant selection will get very picky. Demand for social housing will increase. In theory that will suit a socialist government very well. In practice keeping up with demand will be close to impossible even with money chucked at it.
Already vacancies are decreasing in many locations. Down 65% in Wellington for the year ended April 2017 according to Trademe stats.
Already vacancies are decreasing in many locations. Down 65% in Wellington for the year ended April 2017 according to Trademe stats.
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