PHOTO: The competition for flats in Wellington has reached new levels – GOSS GIBLIN/STUFF.

When rents are going up, but queues for flats remain long, it’s not a pleasant time to be a renter.

And at the moment, a lot of students and other would-be tenants in Wellington are pretty miserable. Prospective tenants are adding cover letters to their applications, getting into bidding wars and racing against each other to secure a place to live at greater and greater cost.

Why this has happened is open to debate.