Rental property supply
The tenancy bond dataset held by the Ministry of Business Innovation and Employment (MBIE) includes rental properties from private sector landlords, individuals in state housing, and rentals owned by local governments and government entities. It is estimated that bonds are lodged for around 85 percent of all tenancies (excluding tenancies with a fixed term of less than six months, and individuals that have a family member as a landlord). MBIE provides monthly updates on bond lodgements and current market price for rental properties.
This indicator presents the proportion of rental bonds lodged monthly, by weekly rent level, in greater Christchurch, from 2008 to 2018.
The figure shows that the proportion of bonds for low-cost rentals ($0–$299) lodged per month within greater Christchurch declined markedly following the September 2010 earthquake (and, to a lesser degree, for rentals in the $300–$399 range). The drop in the proportion of low-cost properties available for rent was due in part to some poorer-quality housing being damaged in the earthquakes and to some landlords charging higher prices as the residential repair programme increased the demand for short-term temporary accommodation. While the short-term temporary accommodation pressure has largely abated, the supply of low-cost rentals remains low, as growing property costs, including insurance and rates, have influenced the market.
Source: Ministry of Business Innovation and Employment.
Survey/data set: Data set created for research purposes from MBIE's tenancy bond database. Access publicly available data from the Ministry of Business Innovation and Employment website www.mbie.govt.nz/building-and-energy/tenancy-and-housing/rental-bond-data/
Source data frequency: Monthly.