New Zealand Property Investors' Federation

The NZPIF is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.

(027) 357 9243

www@nzpif.org.nz

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16-08-2022

Rent is not the biggest contributor to inflation

Chief Human Rights Commissioner Paul Hunt has called for an immediate freeze on rent increases to give renters some reprieve during the cost-of-living crisis.

“Why does he choose rental property providers to have their incomes frozen when rents have increased less than other living costs?” says Andrew King, President of the New Zealand Property Investors Federation (NZPIF).

In the latest inflation statistics, general inflation for the year rose 7.3% however rents only rose 4.1%. This was at a time when the costs of providing rental accommodation rose 9.1% and rental providers are facing three discriminatory tax increases.

“Transportation costs have increased by 25% so why not call for an immediate freeze on petrol?” says King.

It appears that Hunt is under the misconception that rental property owners are the mega rich and don’t need the rental income to provide rental accommodation. However, the vast majority of rental homes in New Zealand are supplied by ordinary Kiwis who have one or two rentals as part of a way to provide for their elderly years in retirement.

“If Hunt truly wants to help tenants, why does he not call for a reversal in the three tax increases that are putting real pressure on rental prices to increase?” he says

About NZPIF

The New Zealand Property Investors’ Federation represents 6000 property owners and is responsible for educating and supporting landlords to ensure New Zealanders have access to high quality rental properties.

 

For further information please contact:

Andrew King, President NZ Property Investors’ Federation

Email: andrew@andrewking.co.nz

Mobile: 021 216 1299

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