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There are worries that the Government’s adjustments to tenancy regulations might not have an impact on rental prices. A proposed Bill set to be introduced to Parliament aims to reinstate 90-day no-cause terminations for periodic tenancies, a provision that was removed by the Labour government last term.

An increase in migration and a shortage of property investors are believed to be causing a surge in rental prices nationwide. Rental rates have reached historically high levels, rising by 6.1% in the year leading up to October, with Auckland experiencing an even steeper increase of 8.5% over the past year.