Higher rents are the biggest contributor to the annual inflation rate, but landlords say Dunedin’s rates rises are to blame.
Stats NZ this week said rising rent prices were the biggest contributor to the annual inflation rate and almost 20% of the 2.2% annual increase in the consumer price index (CPI) was due to rent prices.
NZ Property Investors Federation spokesman Matt Ball said rates alone made up 16% of the overall 2.2% increase.
“Don’t forget that rates are a very important contributor into rent,” Mr Ball said.
“It’s one of the costs, one of the big costs that landlords and property investors face.” Read more