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Rents have skyrocketed yet again, proving the urgent need for National’s regulatory reduction package, Leader of the Opposition Simon Bridges says.

New data released today by the Ministry of Business, Innovation and Employment (MBIE) shows that since Labour, the Greens and NZ First formed Government there has been a median increase in rents of $65 a week, or $3400 a year.

“Adding $3400 a year to the family budget is a huge burden and will cause many Kiwis stress. It’s equivalent to about 40 tanks of petrol or 22 weekly grocery shops,” Mr Bridges says.  

“Unfortunately, this increase was not unexpected given the regulations and extra cost that Labour, the Greens and NZ First have piled on landlords.

“Landlords want to do right by their tenants, but when costs are being heaped on they don’t have much choice but to pass them on.

“Our economy isn’t in good shape and families will be doing it tough as we head towards a likely recession. That’s why National introduced the first part of our five-point economic plan this week.

“Excessive regulation is driving up rents across the country, and today’s figures show why our plan to light a bonfire of regulations is sorely needed.

“Only National can be trusted to run the economy, to help it thrive in the good times and steady the ship when there are troubled waters.

“National will introduce polices that will put more money in your pocket, make it easier for businesses to operate and keep our families and communities safer.”

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