Labour has learnt nothing from its war on renters

Labour’s plan to ban no-cause evictions will drive up rents and leave young Kiwis worse off, warns Taxpayers’ Union spokesperson Tyler Groenewald.

“Labour’s economically illiterate attacks on landlords last time they were in government had an extremely predictable effect. Under Labour, median rents rose $180 a week. That means renters were nearly $10,000 a year worse off by 2023.”

“Scrapping interest deductibility, ring-fencing rental losses, and loading landlords up with red tape worsened the cost of living crisis. Now that rent increases are at their lowest level in 25 years, Labour want to throw that progress away.”

“Making it riskier to rent out a property means landlords will become pickier about who they rent to and charge higher rents to cover the added risk. Young Kiwis and renters with less-than-stellar histories will be the first to lose out. Renters need more places to live at a lower cost, and Labour’s proposals will deny them both.”