Hamilton students say rent is too high
Students, as always, are battling to balance their rents against everything else
Hamilton students say high rental prices make balancing study and work hard with many having to commit to long hours at local businesses to balance their books.
On the minimum wage students can earn approximately $177 for doing the recommended 15 hours of work a week, and the maximum student loan for living costs is $172.51 a week.
From eight Hamilton students surveyed the average rent cost for one person was $105, excluding power and food. Five of those spoken to relied entirely on their student loan because they did not think they could manage a job as well as study.
This allows around $60 a week for power, food and other luxuries.
New Zealand house prices are close to their all-time high and are expected to keep climbing, according to ASB’s latest quarterly survey.
Student Ashley Rixon, 20, is studying web design. “It’s just me and my partner and we are basically renting a granny flat… but that’s all we can afford while I’m studying.”
“If I didn’t have work I would be struggling but because I’m working I’m falling behind in my studies, so it’s never ending,” said Ashley.
Lodge City real estate manager David Kneebone said rentals have gone up.
“Average renting prices have increased around 4 percent over the past two to three years,” said Mr Kneebone.
In the final quarter of 2012 students made up around 15 percent of the rental market in Hamilton.
Hamilton rental property supply also increased 11 percent and demand rose 4 percent, according to Trade Me statistics.
