HAMILTON families have been left homeless as rental prices skyrocket and competition for the few vacant properties intensifies.
Whether it is due to job insecurity, tight bank lending or simply a reluctance to become tied down by a mortgage, the number of local people buying homes has dropped dramatically.
Real estate agents have therefore been inundated with prospective tenants and have few offerings to throw to a desperate crowd.
“There are a lot of people staying with family or staying long-term in caravan parks, just hoping to secure a home,” Ray White principal Darren Groves said.
“We’re getting about five new rental listings per month and we’re averaging 50 applications.
“We can’t control it – we can only rent the properties that have become available to us.”
The cheapest rental property Mr Groves has on offer is set at $200 per week, but most are closer to $300 or above.
Full story in the Spectator on Thursday, January 9, 2014