Research commissioned by the Building Research Association in New Zealand suggests that the number of rental households in the country will soar between 2013 and 2026 as a consequence of the growing number of people not climbing onto the property ladder in their 20s and 30s now.
The number of renters over the age of 65 is expected to swell dramatically – by over 75% – with numbers of renters under the age of 40 expected grow by over 19%.
The report’s author, Ian Mitchell of Livingston Associates, says the renting trend is more “aggressive” than he had previously estimated, putting more pressure onto the private sector to provide more accommodation.
Household numbers in New Zealand are tipped to grow by 170,000 between 2013 and 2021, equating to 57,000 more owner-occupiers and 113,000 more renters, which should be good news for investors looking for rental returns on a home there.
