If you want a recipe for trouble, just add Socialism. Socialism is such a potent ingredient that, if it was your intention to increase home ownership and make things better for tenants, this secret ingredient will ensure that the recipe will not only fail, the oven will also blow up!
According to Harcourts, the number of people renting is increasing at almost double the rate of those who own their own homes.
According to Statistics New Zealand out of 1,771,300 NZ households at the end of June, 1,100,800 (62%) owned their own homes, 604,100 (34%) rented their homes and 66,400 (4%) lived in free accommodation.
During the year the number of households that rented their homes grew by 15,400 (2.6%) while the number that owned their own home only increased by 7900 (0.7%)
This continues a downward trend as the percentage of households that own their own homes have been declining for many years according to Harcourts.
Jacinda Ardern’s socialist policies have not only decreased home ownership, they have also had the effect of increasing the number of people needing to rent whilst simultaneously driving private landlords out of the market, thereby increasing rents and seriously reducing supply.
