Rental Vacancies moving Cities

Rental listings or "rental inventory" nationally have not changed since March 2014. But, the changes between cities are enormous.

Listings have increased in Auckland and Christchurch but are severely down in Wellington and Waikato/BoP. Does this mean population movement from Christchurch due to lack of earthquake recovery work and Auckland due to cost of living is now so severe that inter-regional migration is at a peak? There are no stats on regional migration until the census comes out again.

The following chart shows the damage, Wellington has been losing listings and is now at an all-time low for this time of year. Waikato/BoP continue to lose listings but less so.

On the other hand, listings in Christchurch and Auckland continue to rise almost 20% pa. Where is the housing shortage? It may be a shortage of lower priced rentals, but there is no shortage overall.

Wellington not only has a rental inventory problem, but also a sales inventory problem of enormous impact. Since December, there was only 50% of inventory at the same time a year before:

Jonette 2011