Regions Rental Listings Compared

Rental inventory is best viewed as a percentage of total rentals, i.e. advertised vacant supply as a percentage of total demand. International studies suggest 3% is the balance point where more than that and supply exceeds demand or vice versa. Notice Auckland and now Canterbury (post earthquake effect) sit almost exactly at 3%.

So that leaves Wellington, Tauranga and Hamilton in severe shortages, as they fall below 2%. News reports about Wellington shortage are now becoming common, as is anecdotal evidence.

Christchurch has returned to a stable level of 3%, the same as ALL cities pre-earthquake. That may stabilise prices there.

There is no shortage of rentals in Auckland, only a shortage of income to pay for the rents of MBIE houses if they can get them!

Wellington, Tauranga & Hamilton have a shortage of homes, fullstop.

To help understand the previous chart, here is the same chart with actual numbers of rental listings (inventory) Auckland being the bigger city has more homes available for rent.

The minor regions are also available, but do not fit on the above chart, so here they are;

North Island first

And the South Island

Jonette 2011