Annual rent rises hit low-spending households

Feb 13, 2017 | Research

“Higher costs for rent, and cigarettes and tobacco, had a greater effect on lower-spending households,” consumer prices manager Matt Haigh said, “Rent was up 2 percent this year, with the largest increases being observed in Auckland.”

Living costs for all households were up 1.0 percent in the year to December 2016, compared with the 1.3 percent CPI increase. The ‘all households HLPI’ does not include the large price increase in purchase of new housing (up 6.5 percent), but does include mortgage interest payments (down 1.1 percent).

See more here.

Recent articles