Chch rental inflation at 8-year high
Christchurch's rental woes are deepening, new figures show.
Rental inflation in the earthquake-hit city has surged to the highest in more than eight years, research by Infometrics reveals.
Rental prices in the city centre have ballooned by 21 per cent in the past year and the economics forecasting and consulting firm says Christchurch's housing shortage is becoming "critical".
The city has forced national rental inflation up 4.9 per cent despite the absence of any significant rental pressures across the rest of the country, Infometrics' 2012 September quarter residential rent report says.
In the wake of the earthquakes, the city has been left with a massive shortage of affordable housing, and Infometrics predicts the issue will be exacerbated as construction workers start flowing in for the rebuild.
Welfare agencies have labelled the housing shortage a "crisis", and The Press has reported rental increases of up to $100 and many homeless Cantabrians who have been forced to sleep in caravans, cars and even on the sand dunes at New Brighton Beach.
If you have had any recent rental woes or been hit by an unaffordable rental increase, email email@example.com.
- © Fairfax NZ News
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