Tenants tough on state houses
Monday 4 October 2004
More than half of Housing New Zealand's 60,000 rental properties are being damaged by tenants each year.
By The LandlordLast week it was revealed that damage in the 2003-04 year cost $18 million, a figure that has risen by 68 per cent in the past three years.
The Herald has learned that 36,700 of Housing NZ's 63,500 properties, just over half, were classified as damaged.
Housing NZ says that "damaged" also includes cases where work was done to bring vacated properties up to scratch for re-letting.
A former handyman who used to repair Housing NZ homes said there were countless incidents of intentional vandalism every day, some on almost unbelievable levels.
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There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
Take note, investors: It is "quite possible" fixed rate mortgages have hit their lowest point in this cycle, according to economists at ASB.