Hon DAVID PARKER: There's no doubt that an increase in supply will have a moderating effect on rent increases. It's interesting that data for rents on new tenancies in the North Island is divided into Auckland, Wellington, and the rest of the North Island, and, notably, Auckland rents increased by 2.7 percent in the year to February this year—a lower increase than for the rest of the North Island, which includes Rotorua. Auckland's housing supply's going gangbusters, growing from around 10,000 houses consented in 2017 to over 20,000 per annum now, most of which is medium density.