Hutt rents skyrocket

New median rent data shows rents in the Hutt Valley have reached eyewatering heights under Labour, National’s List MP in Hutt South Chris Bishop and Remutaka candidate Emma Chatterton say.

The median weekly rent in Lower Hutt has increased by $225 since Labour came to office, with Upper Hutt increasing by almost $260, The Ministry of Business Innovation and Employment’s (MBIE) Tenancy Services Rental Bond Data release for January 2023 shows.

“Labour told New Zealanders its policies would ‘stabilise or reduce rents’ but in reality, those policies have driven the largest rent increases in recorded history,” Mr Bishop says.

“People in the Hutt are living with the consequences of Labour’s approach as they pay some of the highest rents in the country.

“National will reverse Labour’s interest deductibility and bright-line changes, which have done nothing but pile costs onto renters.

“We’ll drive infrastructure investment to support more housing, unlock land for housing, share the benefits of housing growth with local communities, increase long-term rental options with Build-to-Rent housing, boost social and affordable housing by backing community housing providers and ensure everyday Kiwis can get mortgages by fixing the Consumer Credit Contracts and Consumer Finance Act which has cut access to bank lending,” Mr Bishop says.

According to MBIE’s data Lower Hutt’s median weekly rent has increased from $375 to $600 between October 2017 and January 2023. That represents an increase of $225 a week, or $11,700 a year.

Upper Hutt’s median rent has risen from $360 to $618 during that period, a rise of $258, or $13,416 per year.

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“Renters in Upper Hutt have been hit by some of the biggest rent increases in New Zealand since Labour came to office,” Ms Chatterton says.

“How is a family renting in Upper Hutt supposed to save for their own home, or even get by, with the median yearly rent climbing by over $13,400.

“People in Upper Hutt are paying the price for Labour’s poorly thoughtout housing policies.

“The Government refused to listen when warned that removing interest deductibility on rental properties and extending the bright-line test would raise rents. This data shows that’s exactly what’s happened,” Ms Chatterton says.

“National will be laser-focused on fixing the cost-of-living crisis and backing people to get ahead, instead of saddling them with more costs.

“National is determined that New Zealand can once again be somewhere people can see a path to home ownership and we’ll actually deliver.”