January, February and March are typically the busiest renting months for property management specialists and this year is no exception with reports that the phone is ringing hot and the emails are flooding in.
Rental increases have been reported around the country in the main centres. Christchurch Property Management Specialist Edmund Le’Grelle of Braziers reported around a 7% increase. Edmund sees a steadying on the last two to three years of rental increases perhaps due to some more rental stock being available. Fully furnished properties continue to attract higher rents.
Median rents in Central Christchurch for apartment dwellers are reported by MBIE for a 3 bedroom apartment at $480, 2 bedroom at $420 and interestingly the same for a 1 bedroom at $420 per week.
For Wellington property management specialist Shayne Thurston of Lambton Property Management reported approximately 5% increases on 2014. Shayne reported that tenants are renewing their fixed terms and everyone is super busy well into the evenings.
In the central city area (Lambton) the median rent for apartments reported by MBIE for a 3 bedroom at $725, 2 bedroom at $495, and 1 bedroom at $362 per week.
Auckland is reporting similar increases to Wellington with Kiri Barfoot of Barfoots and Thompson reporting around a 4.6% increase.
The median rent for Central West reported by MBIE for a 3 bedroom is $620, 2 bedroom $430 and for 1 bedroom $350 per week.
For Central East, the figures reported by MBIE are not too dissimilar with 3 bedroom apartments being the exception at $577, 2 bedroom at $450 and 1 bedroom at $350 per week.
Renters are continuing to look for good quality housing and with the warmer weather the winter heat pump turning into a cooling air conditioner is a plus. Tired, neglected and unloved properties tend to sit longer and attract higher vacancy rates than well cared for and neutral toned properties that continue to appeal to renters.
Realestate.co.nz have reported the following top 20 rental searches with the spectacular summer being experienced around New Zealand, “beach” and “swimming pool” featuring amongst these. Here are the top 20 searched words:
- Fully Furnished
- Pets OK
- Double Garage
- Short Term
- Pets allowed
- Pets negotiable
- Swimming Pool
- Car park
- Fully Fenced
The rental market continues to be buoyant and property management specialists continuing to be very busy. Good quality photographs and descriptions of the rental property continue to attract renters to make the call or email for a viewing.
Vesna Wells is the property management specialist at Realestate.co.nz.
Realestate.co.nz – NET GUIDE 2014 WEB AWARDS – Winner of Best Realestate Site in New Zealand.