Auckland Rental Listings Increasing? - updated 12 July

Auckland

The number of Auckland listings on Trademe for rental vacancies is the highest in three years. Does this mean the rental boom is over and we can expect an easing in prices? Unlikely, I have not separated out city vs suburbs as I can in Wellington where their is clearly a migration from the suburbs to the cities in progress.

Listings at the peak of the housing boom in 2008 were considerably higher, suggesting oversupply as the boom continued too long. Is this situation well on the way again?

Wellington

Wellington urban stats show rental vacancy listings increasing annually for the urban city. Listings are the highest ever in the last four years for the entire urban area, suggesting some truth to the comments on some publications that the market is overloaded with properties and overcome with redundancies.

But wait - there's more:



Wellington Central - Only

Wellington central city (within the green belt areas of Mt Cook, Mt Vic, Te Aro, Lambton and Thorndon) shows the lowest level of vacancies in the last three years for this time of year after dropping very quickly from mid April. However this changed today with listings jumping above the same time last year.

This has somewhat doubtful fredibility however due to Wellington property managers advertising the same property multiple times again as occurred a couple of years ago - Trademe must have introduced another "special". I found one with 7 ads for the same property, one with 3 and some just multiple - not a great site anymore.





Jonette 2011