The Herald reports:
Dozens of homeowners are asking more than $20,000 a week in rent for the Rugby World Cup and at least one website is now threatening to remove those charging exorbitant prices.
Who cares? There is no monopoly supply which forces people to pay such a price. The question is whether there is such a shortage that people are agreeing to pay $20,000/week.
The number of top-end listings continues to grow on accommodation websites but many remain unrented despite being advertised for months.
So problem solved.
Many Auckland homes, especially near Eden Park, are being offered for up to $1500 a night and, in some cases, even more than the $20,000 a week.
One website, Luxury Rentals 2011, has around 65 Auckland homes for rent during the Cup; nearly half are listed in the $20,000-plus category. The exact prices are by inquiry only.
Its a website specialising in luxury rentals. If some rich person is willing to pay $20K a week for said house, then good on them.
What would be interesting is what is the cheapest accommodation still available, not what is the most expensive?