Rental shortage Nationwide

The housing market is heading into new territory as the election approaches, with listings throughout the country dropping to long-term lows, suggesting a shortage of homes for people to move to anywhere in the country.

The black line on the chart below is in uncharted territory due to all major centres showing fewer listings:

  • Auckland heading south little
  • Hamilton & Tauranga staying the same
  • Wellington dropped from 2.5% to 1.5%
  • Christchurch finally reacting tooverbuild, dropping from oversupply at almost 4% down to 3%

Does this mean NZ is running out of properties overall? Most likely

Rental Inventory by region

Sorry I can’t work out how to show the scales, the numbers are in percentages. The US works on an average of 5%, which could be true for NZ, but Trademe data does not include Housing NZ vacancies, the US does not have an equivalent.

To see how far below typical listings on Trademe that the NZ market is, this chart compares the current listings on 1st May 2017 with the long term average up to May 2015.

Auckland is sitting about average, Wellington is below average and Christchurch is well above average.

This time the scales are correct!

Jonette 2011