An influx of migration and lack of property investors is thought to be driving up rental prices around the country.

Rental growth is running at historically high levels, hitting 6.1% in the year to October, with Auckland skyrocketing by 8.5% over the past year.

Aspire Managing Director Mike Atkinson told Kate Hawkesby that he's warning the incoming Government that prices need to be reined in.

He says if prices continue to rise renters will fall out of the market, putting more pressure on social housing wait-lists.

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