Auckland rental shortage under debate
Bobergs First National principal Wayne Boberg believes landlords are continuing to downsize their portfolios, accelerated by the government's latest tax proposals and will be fuelled by a shortage of building consents, rising unemployment and increasing immigration.
"Since the government first raised the issue of property tax changes in August last year, there has been an increase in the exodus of landlords from the rental market, mainly landlords who have been in the market for a long time," he says.
Figures from Trade Me show available listings for rentals as 1,800 for Auckland in February, compared to 2,441 in January and 2,501 in February last year.
"The number of rentals available is shrinking and with building consents down, it seems there's nothing to replace them," Boberg said.
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