Housing

Prospective home buyer shocked by number of houses bought and sent straight to rental market

06:17 am on 3 November 2020

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An Auckland house hunter is shocked by the number of properties she's missed out on that come onto the rental market just weeks after being sold.

Renee and her family want to buy their first home - they have a healthy deposit, bank approval and stable incomes.

She and her partner have been searching since lockdown, but with prices hitting record highs, she's struggling to afford it.

Data from economists and banks show the buy-to-rent market is running hot.

Renee told housing reporter Eva Corlett they've traipsed through open homes every weekend for months, with the same families turning up time and again.