Cities like Invercargill are now caught up in the “major mayhem up and down the country” from the housing crisis, Labour leader Andrew Little told a public meeting in Invercargill on Wednesday.
Investors cashing up from the housing bubble further north, were looking to properties in regional cities like Invercargill, pushing up both house prices and rents for working people on reasonably low incomes here, he told a crowded Big Willys bar at the Newfield Tavern.
Though he offered no figures, Little said he was “astounded to see how quickly rents are rising in New Zealand, including Invercargill.”
I bet he did not offer any figures.
Trade Me shows that rental prices in Southland have gone up 3.1% in the last year on average.
MBIE data has the median rental for Invercargill at $210 a week.