While Wellington City has seen a cooling of the rental market in recent times, Kāpiti Coast rentals are still in high demand.
Cindy Foote of Jade Property Management on the Kāpiti Coast says there aren’t many signs of a slow down here.
“There is far more interest in the Kāpiti rental market which is driven by a number of factors. Transmission Gully has been a game-changer as people realise how easy it is to commute from the Coast to Wellington. We have also seen a greater number of people deciding to work from home and a greater supply of townhouses which are supplying demand,” says Ms Foote.
Ms Foote says affordable housing remains a substantial problem for Kāpiti and the recent establishment of the Kāpiti Housing Solutions Trust is set to address this and she says the Trust is already underway.
The Trustees are Cindy Foote, Murray Edridge (Chair), Waipuna Grace, Alison Cadman, Greg Foster, Kim Tahiwi, and Alexandra Hare.
Ms Foote says the Trust will be looking at new ways to deliver safe, warm, dry, affordable, and consistent housing. Kāpiti Council had facilitated the establishment of the trust which will operate independent of Council.
Trust chair Murray Edridge says, “It was a big decision for Council to move to this model, and a privilege to be entrusted with this important work in our own community.”
“Housing is a fundamental element of people’s lives. Without local housing options, people are forced out of their communities.”
Kāpiti Mayor Janet Holborow says like many parts of the country, housing affordability is a significant and growing issue in Kāpiti.
“Building a resilient community is a core part of Council’s long-term goals and affordable housing is a key component if our district is to grow well.”
Rental prices still a barrier
In November, the median rent for Wellington was $650 a week, coming in third behind the Bay of Plenty at $675 and Auckland at $670 ‒ and increasing by $30 from October the previous year (2023).
For most of Kāpiti the median rent is also $650 per week.
Also putting some pressure on the Kāpiti rental market is the shortage of student accommodation in Wellington City.
Renters United president Zac Thomas says there remained a shortage of affordable homes, particularly for students, which was driving them to live further from university. That had been a consistent issue over the past 12 months.
“You’ve got dozens of students applying for one place and competing to find an affordable dry house to live in,” Mr Thomas says.
He says Tenants needed to be aware of ‘no-cause evictions’, which the Government passed at the end of last year, enabling landlords to terminate periodic tenancies with only 90 days’ notice.
Mr Thomas says “You might be paying the same amount as you were 12 months ago, but you have a lot less housing security than you did before.”
