The level of stock of rental listings has grown markedly over the first half of the year, peaking at close to 6,500 listings before falling back slightly over the past few months – potentially a large part of this could have been as a consequence of properties being withdrawn from sale for lack of buyer interest and thereby being placed on the rental market through property managers. This was the subject of a recent post on the Unconditional blog titled “Home owners opt to rent out properties that are struggling to find buyers”
The graph below shows the movement of inventory (blue bars) over the past 18 months as well as the level of web traffic (red line) to rental listings over the same period.
It is very clear from the graph the extent to which the website has grown in relevance and appeal for rental properties in NZ – from an average a year ago of around 35,000 unique browsers per month to the current level of 50,000 per month.
The website of realestate.co.nz truly delivers a comprehensive audience looking for a comprehensive presentation of available listings be that rental properties, properties for sale, commercial properties, businesses for sale, lifestyle property as well as farms and agricultural land.