OPEN TO ADVICE: Kelly Mead said she would consider using the new scheme when the time came to buy a home for her and her daughter, Ashleigh Ford.
A ground-breaking scheme to help renters save a deposit for their first home has been launched in Tauranga.
The Government-backed pilot scheme, believed to be a New Zealand first, has been launched by Tauranga Budget Advisory Service and will involve budget advisers managing all or some of their clients’ income so they can save a deposit.
A severe rental shortage in Tauranga has created “a lottery” type situation with one property receiving 100 inquiries – and the situation was only likely to get worse, experts warn.
Nikki McAllister works full-time, supports her sons, is actively applying for rental properties, but cannot secure a home for her family.
Thousands of Bay tenants could be in for a shock as experts predict rents will continue to rise this year as demand for rental properties soars.
Trade Me figures show there was a 30 per cent drop in the rentals advertised on its site in 2014 and Ross Stanway, chief executive of Realty Services, which operates Bayleys and Eves, said demand was higher than supply for good rental properties.