Listings exploring new territory

Wellington listings for rentals are at new highs this week, with listings rising when normally at this time they are falling. Seasonal market trends are unclear at this stage, but we have good data for the last three years, suggesting listings should be settling down to the winter rates, they are not. Since the gap during the RWC listings have been relentlessly rising. The main areas driving this rise are in outer suburbs, while in the inner suburbs listings are falling. Both the Hutt and Porirua have higher listings in the latest data, when listings should be dropping. I guess this is due to the cost of transport driving people into the city. Alternately household numbers reducing by say, children returning home, to save on rents in the outer suburbs.

Jonette 2011