colinrealestate

You might have seen the results of our quarterly Property management Survey out in the media recently? Trends generally reflected many more vacant rentals than I the recent past, except Auckland.

The background story is fairly simple; the economic downturn has seen many small [and some large] businesses close from the big cities to small town NZ. That in turn has led to unemployment which in turn
has seen people leave town in search of a new job, and their departure has left rental properties vacant and if they own a home, they are often unsold and also released onto the rental market pending a sale. This situation can quickly change as the rural and regional economies lift, with new employees renting or buying the vacant homes. The current lift could well be the beginnings of that change.

It is again of note that better presented, more modern, well insulated and heated rentals are still snapped up

Filed under: REAL ESTATE | Tagged: Real Estate