By MSN NZ Money staff
Rents are set to rise as a result of the government's 2010 budget, a survey claims.
The New Zealand Business Council for Sustainable Development commissioned the post-Budget survey of residential landlords.
Just under half, or 47 per cent, said they will be raising their rents because they can no longer claim tax deductions for depreciation.
Manukau came out as the area with the highest proportion of landlords planning to raise rents at 74 per cent.
In Wellington 54 per cent of land lords said they plan on keeping rents static while 30 per cent said they were planning a rent hike.
Forty-four per cent of landlords said they were less likely to invest in residential property because of the budget, compared to 29 per cent of the overall population.
The survey was based on responses from 2459 people.
RELATED: Budget socks it to property investors