‘No end in sight' to rent rises, tenant bidding wars
More property investors are set to return to Auckland and will eventually branch out to other centres, according to BNZ economist Tony Alexander.
In his Weekly Overview Alexander said the key fundamental - that construction has failed to keep pace with population growth - means good news for investors, if not for renters already struggling to secure accommodation.
"There will inevitably be more upward pressure on rents and more debate about affordable housing," he said.
"For renters it means no end in sight to bidding against each other, rising rents and eventually the return of more investors to the Auckland housing market...MORE»
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