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Intervention needed for Chch rental crises

04:00 AEST Sun Apr 15 2012
AAP
Christchurch rentals prices have increased by 15 per cent with fewer properties on the market and Mayor Bob Parker says government intervention is needed
Christchurch rentals prices have increased by 15 per cent with fewer properties on the market and Mayor Bob Parker says government intervention is needed

Christchurch Mayor Bob Parker believes government intervention is needed to help the city's rental property crises.

Figures from auction and classifieds site Trade Me this week showed a lack of rental properties and rental price hikes.

RELATED: Christchurch rents hiked on back of low supply

Parker disagreed with Earthquake Recovery Minister Gerry Brownlee's comments that it was not a crisis.

"I would say on an individual level yeah, it'll be a crisis for some people.... It's an issue that will get bigger and bigger and bigger unless we figure out how we're going to resolve it, and unless we get more properties onto the market," he told TV3's The Nation.

Parker did not think the government was doing enough to fix the problem.

"On rental accommodation my personal view is that we're going to have to intervene, we're going to have to do more."

Trade Me statistics showed rents in Christchurch have jumped 15 per cent compared to a year ago.

There were 40 per cent fewer properties on the market and there has been a 42 per cent increase in the number of inquiries from potential tenants.

User comments
we gotta get these prices down way too pricy
look at the listings on trademe ...keeps going up... as today 740 properties avaliable to rent and 420 flatmetes wanted... what crisis...people are still leaving christchurch..and a lot of people just waiting to get paid from eqc and insurers, then to leave mostly for australia,,,including me and many people i know the same situation..