Trade Me data: Weekly rent hits record high of $610, prices soar in Auckland after weather events

New data shows rental prices are continuing to soar, with Auckland now the most expensive region in the country as Kiwis continue to battle the cost of living crisis. 

Trade Me’s Rental Price Index for May shows New Zealand’s median weekly rental prices claimed another record high for 2023. 

The latest figures show the median weekly rent rose to hit $610 for May, which comes three months after reaching $600 for the first time. 

This means tenants are paying an extra $35 a week or $1820 more a year in 2022, according to Trade Me’s director of property sales Gavin Lloyd. 

“It appears that after the large pay increases we saw throughout 2022, landlords are still feeling confident to ask for more. But we expect rents to taper off later in the year as landlords respond to stalling wages and tenants’ lack of disposable income. Until then, renters’ wallets will feel the pain,” Lloyd said. 

There is an unspoken promise between the neoliberal State and the untaxed capital gains private landlord class that the neoliberal State never builds enough State Houses to alleviate housing desperation so that the untaxed capital gains private landlord class can exploit that housing desperation ON TOP OF getting a $1.5Billion annual subsidy in the form of the Accommodation Allowance EVERY SINGLE YEAR!

So the neoliberal State work hand in glove with the interests of the untaxed capital gains private landlord class to constantly keep desperation in the Housing market by never building enough State Houses WHILE handing taxpayer funded subsidies to the untaxed capital gains private landlord class!

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This rigged casino where Landlords can constantly use their own debt to buy more property and out leverage first time home buyers just adds insult to injury.

On top of this, ACT and National want to give that same untaxed capital gains private landlord class the power to evict you at will so they can kick out the smelly domestic renters and exploit the new 100000 migrant workers coming into the country, remove all the healthy home and environmental regulations and put back in place the tax loopholes that benefit the untaxed capital gains private landlord class.

On top of this, the Real Estate pimps are donating hundreds of thousands of dollars to the Right and are dangling the promise of house prices jumping 20% if National and ACT win.

The Housing Crisis is a political decision and you as renters should be incandescent with motherfucking rage at how this has been allowed to continue!



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