Wellington Suburbs Overstocked, Christchurch Short

Listings in Wellington continue to stay above last year and the gap is growing. However the source of the surplus of properties appears to be the outer suburbs, with central suburbs (Lambton & surrounding suburbs in the chart below) tracking last year's listings almost exactly, but the Hutt and the outer ring of Wellington suburbs having surplus capacity.

Listings for the main cities are now showing a severe situation in Christchurch, with listings being down to just 1.2% of rental housing stock after being as high as 3.2% prior to the earthquake.

It seems a great time to invest.

Jonette 2011