The rental market is tight in Auckland. Trying to find suitable accommodation in centralAucklandis both time consuming and expensive.
The main reason is that the supply of new dwellings is just not keeping pace with the demand. Anyone knows that it is relatively easy to borrow from a bank, if you wish to purchase your own home, but it is virtually impossible if you wish to build say four.
The population of Auckland continues to grow, which is adding to this situation. Any additional costs that landlords do incur, such as impending rate and insurance increases, can be passed directly on to the tenant in these circumstances.
Until the above changes, there will continue to be upward pressure on rents.
