Auckland seriously short of Rental Properties?

Rental property listings on Trademe in Auckland are testing new territory. They are now 20% below the long term average for this time of year and are actually the lowest ever in my records back to 2009.

Is that LVR, property prices or what? No level of seasonal debate can match these changes, the reduction since this time last year is 1000 homes, down to a bit over 3000 homes.

Wellington is down about the same but that is not quite so unusual, although only a little above 2009 - when Trademe may not have been so dominant in online advertising.

Rental Listings, Earthquake vs Immigration

Listings in all the regions, indexed to the day of the earthquake, September the 17th, show a strong trend of internal migration from then until early 2014.

Listings are now showing all regions in shorter supply than at the time of the earthquake, about 20% down on numbers advertised at that time. To me this suggests that the rebid activity sent a lot of people to Christchurch from around the country, leaving vacant homes in all other regions, including Auckland. However current advertising levels strongly suggest that the market has less rental accommodation available than in 2010.

A sellers market?

Showing the seasonal trends in Wellington, it is easy to see how low supply has become, at a good time when a lot of new apartments are about to come on to the market.

Jonette 2011