\u201cBut then, I have maintenance on my house that they don\u2019t have to pay. And there\u2019s a lot going out to my mortgage. That is less than rent in the area, but then I have insurance.\u201d<\/p>\n
A renter in North Auckland told the Herald he thought renting affected his wellbeing \u201cto an extent\u201d.<\/p>\n
\u201cI can do things to my house, and I don\u2019t have to worry about if I\u2019m going to be able to stay living there or be moved,” says one homeowner. <\/p>\n
\u201cWhen you look at what you get paid and then the amount that comes out for rent, it\u2019s quite demoralising, especially while trying to negotiate other bills and financial things. It\u2019s tricky when you do see a large chunk coming out [on payday].\u201d<\/p>\n
The 28-year-old, who lives with his partner and wished to remain anonymous, said they had thought about buying together and whether it would make them better off.<\/p>\n
\u201cWhile there\u2019s always the uncertainty of renting, that you could get kicked out or have to maintain someone else\u2019s property, when you talk to people who do own homes, you hear some of the costs that are involved and you think, \u2018I\u2019m actually glad to be renting\u2019.\u201d<\/p>\n
The study was done through Motu Research and Victoria University of Wellington Te Herenga Waka.<\/p>\n
The study also found that people who own their homes outright have stronger financial well-being than renters or mortgage-holders.<\/p>\n
\u201cOur findings show rising property prices can make some people feel better off while leaving others struggling,\u201d said Motu senior fellow and Victoria University professor Arthur Grimes.<\/p>\n
It used data from more than 80,000 households collected by Statistics NZ between 2006 and 2024. Between 2005 and 2021, a 142% \u201csurge\u201d in rents deepened inequalities, researchers said.<\/p>\n
\u201cIf we want to support well-being for everyone, we need to look closely at how monetary and other policies affect house prices and rents,\u201d Grimes said.<\/p>\n
\u201cGood policy can ensure prosperity supports everyone, no matter their housing situation.\u201d<\/p>\n