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RNZ News
05-08-2025
- Business
- RNZ News
Quarter of all tenant applications to Tenancy Tribunal relate to concerns about Healthy Homes
Tenants most often sought the recovery of a bond, damages due to landlords breaching obligations and compliance with Healthy Home standards. (File photo) Photo: 123RF About a quarter of all tenant applications to the Tenancy Tribunal relate to concerns about Healthy Homes standards, but industry commentators say most landlords are meeting obligations. In its latest annual report, the Tenancy Tribunal said there were 29,309 applications made to it in 2024, up 14 percent compared to 2023 and up 43 percent compared to 2022. About three-quarters came from landlords and 66 percent of all claims related to rent arrears. Tenants most often sought the recovery of a bond, damages due to landlords breaching their obligations, or compliance with Healthy Homes standards. From July 1 this year, all rental properties had to comply with Healthy Homes rules , which set minimum standards for heating, ventilation and insulation. Tenants living in a home that is not compliant could take their concerns to the Tenancy Tribunal. The Ministry of Business, Innovation and Employment, said in 2024, 1412 applications to the tribunal related to a Healthy Homes concerns. In the 2025 financial year, it was 1394. Economist Ed McKnight, from property investment firm Opes Partners, said this was a factor in about 29 percent of tenants' complaints. "That sounds high. But there are approximately 600,000 rental properties in New Zealand. "So only 0.2 percent of rental properties had a tenancy complaint regarding the Healthy Homes Standards." He said the numbers indicated property investors had taken the rules seriously. Matt Ball, a spokesperson for the NZ Property Investors Federation, said the number of applications should start to drop now that all rental properties were required to be covered. But Sarina Gibbon, general manager of the Auckland Property Investors Association, said there could be "systemic illiteracy" about the standards, and tenants might not feel they could push back. Sarina Gibbon, general manager of the Auckland Property Investors Association said tenants may feel as though they cannot push back against landlords. (File photo) Photo: Supplied "The power imbalance inherent in tenancy relationships is not abstract. It's basically a butter knife we put in tenants' hands and say, 'There, go fight your battles.' "I can go on and on about the systemic illiteracy; it is pretty endemic - I see it everywhere, among landlords, tenants, property managers, vendors, assessors, and real estate agents. There's a lot of bad [Healthy Homes] information in the marketplace and it is concerning how many landlords are relying on them as professional advice." Ball said the big increase in applications overall was probably driven in part by an increase in the number of people renting. "Active bonds increased from 374,298 at the start of 2020 to 424,383 at the end of 2024, a 13 percent increase. Over the same period tribunal applications went up 31 percent, so this is close to half of the reason." He said the tribunal now offered a wider range of options to resolve disputes, which were faster and cheaper than a full hearing and could make it more likely that people would lodge an application. "For example, both fast-track resolution and mediation provide a faster way to resolve a dispute and are increasingly used by both parties. It's interesting to note that the percentage of applications which actually required a hearing fell from 50 percent in 2020 to 44 percent in 2024." Overall, in 2024, tribunal hearings for residential tenancy cases were conducted on average just under 10 weeks after filing. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
16-06-2025
- Business
- RNZ News
House sellers 'keen to move on' driving increase in sales
For Sale Sign Photo: RNZ / Angus Dreaver More houses changed hands in May, but for generally lower prices, and buyers are taking their time about their decisions, the Real Estate Institute (REINZ) says. REINZ data shows that, at a national level, the median house price dropped 0.9 percent year-on-year in May, to $763,000. Auckland's price dropped 3.5 percent. Excluding the biggest city, the median price was stable. The number of properties sold rose 8.9 percent compared to a year earlier, to 7166. Northland had the highest increase in sales count, up 33.3 percent year-on-year, from 171 to 228 sales. Tasman followed with a 29.7 percent year-on-year increase, from 64 to 83 sales. Canterbury had the largest number of properties sold in any May month since 2006 and Tasman since 2013. Listings were up almost 3 percent. The median number of days to sell properties lifted by three to 47. REINZ said this reflected buyer caution. "Purchasers are taking longer to commit, which local agents suggest could be due to a lack of buyer urgency and the fact that buyers have time to find a property that best suits them." The institute's house price index, which is designed to smooth out variation caused by the make-up of sales, was up 0.1 percent year-on-year and down 0.6 percent compared to April. Ed McKnight, property economist at Opes Partners, said there were signs of increasing demand and supply in the market. "Lower interest rates are drawing more people into the market. But the number of property listings is high. That's in part because of Kiwis moving overseas and selling up in New Zealand. "Because if both demand goes up you get more sales and higher prices. If supply goes up you get more sales and lower prices. "So the pricing effects are cancelling each other out and sales are recovering well from the bottom of the market." Kelvin Davidson, chief economist at Cotality, said sellers had already been willing to meet the market. the number of deals had returned to normal for this time of year after a long period of sluggishness. "At face value, another rise in sales alongside a continued flat patch for prices would add to the case for thinking that more sellers who have sitting on the market for a while are now just keen to move on. "That said, there's nothing to suggest sellers are capitulating; yes, there's a lot of listings and buyers still have the upper hand, but I'd say most vendors are still willing to be patient." Prices remain 15.8 percent below their previous peak.
RNZ News
14-05-2025
- Entertainment
- RNZ News
The Panel with Ed McKnight & Niki Bezzant (Part 1)
Tonight on The Panel, Wallace Chapman is joined by panellists Ed McKnight & Niki Bezzant. They discuss the Green Party's alternative budget, Cannes red carpet nudity ban, and why blind people are increasingly wary of dangerous dogs. Ed McKnight is an economist at Opes Partners & host of the 'Property Academy Podcast' Niki Bezzant is a journalist and author Photo: ROLAND MACRI
Scoop
13-05-2025
- Business
- Scoop
How Landlords Are Trying To Stand Out In Crowded Rental Market
Renters in many parts of the country are in a prime position, as the number of rental listings they have to choose from reaches record levels. Renting a property is taking significantly longer than in recent years and average asking prices are dropping. Opes Partners economist Ed McKnight used data from Trade Me to determine that properties in South Taranaki are taking 35 days to rent, 23 percent longer than this time last year. In Stratford, the 33 days it is taking to find a tenant is up 50 percent year-on-year. Westland's 29 days is 30 percent up and Auckland's 22 days is 10 percent up. Wellington is up 5 percent and Christchurch up 31 percent. When it came to the property type, McKnight said there was not a lot of differentiation, People were primarily searching for two and three-bedroom properties, and larger places tended to take longer to rent. Last week, said the rental supply on its site in April was the largest for that month in almost a decade. Spokesperson Vanessa Williams said investors were holding on to properties, rather than selling them. Some that had been put into the Airbnb market had been brought back into long-term rentals, and some young people were living with their parents for longer or going overseas. Propertyscouts NZ director Ryan Weir said the change in the market had happened between May and October last year, but he said property investors and landlords could use tactics in their advertising to help let properties more quickly. 'I recommend people have professional photos to make the spaces look bigger and brighter. If you are taking photos on your smartphone, there are websites out there that will sort of touch them up and enhance them to get them towards the quality of the professional photo.' He said people should also think about the order of the photos they used. 'Have your living spaces or kitchen or outdoor area first, and then your least glamorous ones, like a laundry or a toilet or a bathroom at the back.' A video walkthrough would also help, he said, as would being careful about the price advertised. 'I don't want to sound like a car salesperson here, but there's a little bit of psychology and strategy that takes place, so a property at $790 a week may get more clicks than the $800 a week.' He said listings that had been live for a while could be removed and relisted to keep them among the first results on Trade Me. Allowing pets would also help a property stand out. About two-thirds of households have pets, but only 13 percent of rentals are listed as pet friendly. A rule change is coming that will allow landlords to charge pet bonds, so Weir said owners would have little to lose, if they acted early and allowed pets. He said people should also ask prospective tenants for feedback. 'If you are a property manager and if someone gives you some constructive criticism, you can say, 'Hey, if we can arrange that for this property, will you apply?', rather than not having that conversation. Now you're working collaboratively with them.' His experience suggested that a ratio of between 25-35 views every time someone added a property to their Trade Me watchlist was the sweet spot. 'If that ratio goes, say, over 35, it means it might be too expensive or it's not very appealing.' If the ratio was closer to 20 views for every one person adding it to their watchlist, it could mean the price was too low. He said things like unaddressed maintenance, or a property that looked damp and cold would put people off. Landlords and property managers should also try to make it easy for people to view rental properties by advertising open homes. 'If you manage to get someone into your ad, and interacting with it and liking the property, it's really important to sort of remove friction… have a number of viewing times and dates set up, so they can elect to take one of those. 'Have the viewing slots ready, so interested tenants can basically act immediately, and when you're at the viewing as well and you're showing these people through, have all your bits and pieces ready to go, like your application links and things like that, so that they can take the next step.' He recommended landlords keep an eye on the rest of the market and compare their listing to other similar properties.
Scoop
13-05-2025
- Business
- Scoop
How Landlords Are Trying To Stand Out In Crowded Rental Market
Experts suggest strategy may be needed to 'sell' a property to prospective tenants as listings reach record levels in some areas. , Money Correspondent Renters in many parts of the country are in a prime position, as the number of rental listings they have to choose from reaches record levels. Renting a property is taking significantly longer than in recent years and average asking prices are dropping. Opes Partners economist Ed McKnight used data from Trade Me to determine that properties in South Taranaki are taking 35 days to rent, 23 percent longer than this time last year. In Stratford, the 33 days it is taking to find a tenant is up 50 percent year-on-year. Westland's 29 days is 30 percent up and Auckland's 22 days is 10 percent up. Wellington is up 5 percent and Christchurch up 31 percent. When it came to the property type, McKnight said there was not a lot of differentiation, People were primarily searching for two and three-bedroom properties, and larger places tended to take longer to rent. Last week, said the rental supply on its site in April was the largest for that month in almost a decade. Spokesperson Vanessa Williams said investors were holding on to properties, rather than selling them. Some that had been put into the Airbnb market had been brought back into long-term rentals, and some young people were living with their parents for longer or going overseas. Propertyscouts NZ director Ryan Weir said the change in the market had happened between May and October last year, but he said property investors and landlords could use tactics in their advertising to help let properties more quickly. 'I recommend people have professional photos to make the spaces look bigger and brighter. If you are taking photos on your smartphone, there are websites out there that will sort of touch them up and enhance them to get them towards the quality of the professional photo.' He said people should also think about the order of the photos they used. 'Have your living spaces or kitchen or outdoor area first, and then your least glamorous ones, like a laundry or a toilet or a bathroom at the back.' A video walkthrough would also help, he said, as would being careful about the price advertised. 'I don't want to sound like a car salesperson here, but there's a little bit of psychology and strategy that takes place, so a property at $790 a week may get more clicks than the $800 a week.' He said listings that had been live for a while could be removed and relisted to keep them among the first results on Trade Me. Allowing pets would also help a property stand out. About two-thirds of households have pets, but only 13 percent of rentals are listed as pet friendly. A rule change is coming that will allow landlords to charge pet bonds, so Weir said owners would have little to lose, if they acted early and allowed pets. He said people should also ask prospective tenants for feedback. 'If you are a property manager and if someone gives you some constructive criticism, you can say, 'Hey, if we can arrange that for this property, will you apply?', rather than not having that conversation. Now you're working collaboratively with them.' His experience suggested that a ratio of between 25-35 views every time someone added a property to their Trade Me watchlist was the sweet spot. 'If that ratio goes, say, over 35, it means it might be too expensive or it's not very appealing.' If the ratio was closer to 20 views for every one person adding it to their watchlist, it could mean the price was too low. He said things like unaddressed maintenance, or a property that looked damp and cold would put people off. Landlords and property managers should also try to make it easy for people to view rental properties by advertising open homes. 'If you manage to get someone into your ad, and interacting with it and liking the property, it's really important to sort of remove friction… have a number of viewing times and dates set up, so they can elect to take one of those. 'Have the viewing slots ready, so interested tenants can basically act immediately, and when you're at the viewing as well and you're showing these people through, have all your bits and pieces ready to go, like your application links and things like that, so that they can take the next step.' He recommended landlords keep an eye on the rest of the market and compare their listing to other similar properties.
