The property in Aro Valley, listed for NZ$200 (A$185) per week, seemed to be rundown and was highlighted on Twitter by Upper Hutt City Councillor Dylan Bentley.
“It’s just a sad reflection of where the rental and overall housing market is at,” he mentioned.
“Tenants and buyers are having to choose between affordability and decent quality housing. By having such insufficient housing supply we allow listings like this to be serious options.”
“We err on the side of caution and if we have any concerns about any listing on-site we will take action, which might include making contact with the member and/or removing the listing from our site. It is important that when members list properties for rent on-site that they’re upfront with prospective tenants and provide images and a detailed description of the property.”
She mentioned the median lease within the space in May was NZ$600 (A$550) per week.
Wellington property investor Steve Goodey, who will not be the proprietor of the property, mentioned it mirrored the present market and the way a lot it price landlords to lease properties out.
“Landlords are struggling, they’re chasing their tail on profitability. They’re starting to realise that existing homes are bloody expensive to run and own.
“Insurance prices have gone up one hundred pc and most insurance coverage firms have an embargo on Wellington, they will not tackle new threat. Then you are taking the legal responsibility of your tenant having a go at you.”
He said new rules added cost.
“My job is to promote my product to my purchasers and my purchasers are my tenants. Every time we’ve got an intervention by the Government and so they make us do one thing the fee goes to the tip person, the tenant.”
Stats NZ data showed that overall rent prices increased 0.5 percent in June compared to the month before.
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Source: www.9news.com.au
