Skyrocketing provincial rental housing, demand outstrips supply
The demand for provincial rental housing is skyrocketing amid a perfect storm ensuring demand far outstrips supply. There's been recent publicity about the dire availability of properties-to let- in Tauranga, Queenstown and the Nelson region, but it is much more widespread than that. We have assembled a panel to discuss the gravity of the issue. Liz Ford is the owner and manager of Bay of Islands property management, she is based in Kerikeri. From Gisborne's economic development agency, Richard Searle - he is the General Manager - Commercial for Trust TairÄwhiti, and David Lee is the General Manager of Bayleys Marlborough.They say rents are increasing week on week - in Marlborough, the cost of renting is rising by around $20 dollars a week, in the Bay of Islands rent is on average $50 higher per week than it was a year ago, meanwhile Gisborne is 400 houses short of where it needs to be right now.