Posted by lindsay on June 23, 2014
There’s a lot of speculation about what will happen to the New Zealand property market over the coming year.
While there may not be a definitive answer for that, one thing that is clear is that interest in rental properties is heading south. Last year, The New Zealand Herald reported TradeMe property figures showed a decline of 2% in tenancies from a year earlier. This could be in response to the rise in rental prices, or perhaps the hunger of so many buyers to take their position on the property ladder.
“The number of listings has continued to track up, as buoyant values and low interest rates lure investors to the market,” said TradeMe property at the time. However, “demand from tenants has been diluted as they have more rental stock to choose from. This means landlords will be working harder to secure great tenants, especially if they have a property that doesn’t tick all the boxes.”
The article went on to report that Wellington and Christchurch markets were experiencing a similar fate.