Update Listings lower than Historic Experience

Rental listings in Auckland continue to track at the low end of previous experience, although they are now up to the level of last year there are still fewer properties up for rent than 2012-2013. There is a noticeable lift at the beginning of April of close to 500 homes, suggesting a change in the market

Contrasting with Auckland, the Wellington market looks like a serious dip below that of last year, but that is likely to be simply data variations. My guess is that the market is following the trend of last year

The following chart is intended to provide a comparison of the number of listings compared to the average of the last 5 years, this shows Auckland staying constantly down around 10%

This chart is to help understanding of the longer term implications and may actually provide a forecast. The lines show the number of listings as a percentage change from he same time the previous year. It appears to show listing levels on a strong growth, especially in Auckland - is that due to the number of investors getting into the market? Will they find they are crowded out?

Jonette 2011