19601 (2024). Hon Kieran McAnulty to the Minister of Housing

19601 (2024). Hon Kieran McAnulty to the Minister of Housing: What rate of rental increase, if any, does the Minister believe is acceptable?

Hon Chris Bishop: The key drivers of rental prices are wage growth and the supply and demand for housing stock. Boosting housing supply is an important part of improving rental affordability. Cyclical price fluctuations are unavoidable but over the long term, improvements in rental affordability can be achieved by making more land available for housing, fixing infrastructure funding and financing, and introducing incentives to encourage cities and regions to go for growth. We expect to improve rental affordability over time, as wages are expected to grow faster than rent prices.