Given Auckland’s widely observed ‘housing shortage’ & house price inflation in 2016, one wonders why rents rise so much slower.
• In 3 years, Auckland’s median house prices rose +40% (from $600k in 2013 to $840k in 2016), yet rents were up +19.2% or less.
• To understand why rents have risen so slow, Chaston examines the overall Auckland housing market data, with a focus on tenure.
• He found both investor activity & later household formation as reasons.
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