Here’s how much prices have to rise to make buying a better option than renting your house   If house prices were to rise about 5% over the next year it would pay homeowners back for the extra cost of owning their home compared to renting it – at least on paper, BNZ chief economist…

Queenstown Housing Shortage: Government Support Gap Due to Area Classification   In the struggle to cope with rising rents, some tenants in certain Queenstown areas are finding themselves unable to access government rental support due to area classification issues. While Queenstown has rapidly grown into a tourism hub, newly developed suburban areas like Lake Hayes,…

Migration surge puts upward pressure on rents   According to data released on Wednesday by Stats NZ, rental prices are on the rise nationwide. The “flow” measure, which includes new leases, increased by 6.2% compared to the previous year and 1% compared to the previous month in August. The inventory measure, which includes existing leases,…

Average national house price increases for first time since 2021     For the first time since late 2021, the average house price nationwide has gone up. The average cost of a New Zealand home increased by 0.5 percent in August, to $893,639. Quotable Value operations manager James Wilson told Morning Report the increase “continues…