In contrast to Auckland, Wellington is short of private rental properties and has been for over 2 years. 2019 continues this trend, even dropping below 2018 already.

Anecdotally in this tight market, Facebook requests for accomodation from desperate tenants may be resulting in tenancies not being advertised on Trademe, losing a great resource. Personal experience is that this is not a good way to select a tenant.

Sales inventory is extremely low, below 50% of normal levels and moving lower. This change occurred in 2016, with a hint of the issue coming in 2015.

Turnover has increased recently, with bonds registering almost double the number of listings - is this due to the time taken to get a tenant has decreased to 2 weeks? Certainly in my experience, but also tenants are seeking rental opportunities everywhere, including Facebook.

The recent dramatic drop in active bonds is a hint of trouble coming for tenants in Wellington.

Interesting, this is not so in Auckland

The following chart is from Quarterly data and shows that rents outside the city centre stay below the National average, however Wellington has reduced to match the National average from 2014, with the shortage of properties is this about to change? Note the last two data points are based on an estimate of household income increasing 3% for this year, the data I used does not come out until Sept 2018.

The risk of this comparison is that suburbs are often dormitory only so are not representative of the city as a whole.

The National line is compared to the National Average Household income.

Jonette 2011