Rents in Wellington are growing twice as fast as wages, and experts warn it's only getting worse for renters. The consumer price index (CPI), determined by changes in goods, wages, and house prices, increased 37 per cent over the same time period. House prices have increased 440 per cent since 1995, while rent prices increased 250 per cent during that time, closer to the 200 per cent increase in CPI. Te Kāea One Māori student advocate at Massey University fears rent increases to Wellington rental properties and a lack of accommodation availability could put students off studying. CAMERON BURNELL/STUFF Oxygen general manager Christian Casbolt has noticed a mass exodus of rental property owners selling their houses to first home buyers this year.

Source: Stuff July 04, 2019 17:00 UTC