MAR­KET SHOWS SIGNS OF PRES­SURE

Central Leader - - YOUR PAPER, YOUR PLACE -

The Auck­land rental mar­ket is show­ing signs of pres­sure ac­cord­ing to Bar­foot & Thomp­son. Va­cancy rates re­main ex­tremely low, the av­er­age rent for new te­nan­cies in­creased at a faster rate than the over­all av­er­age, and Bar­foot & Thomp­son saw record on­line reg­is­tra­tions to view prop­er­ties. Its data showed that for ev­ery rental prop­erty that be­came avail­able on av­er­age there were 44 prospec­tive ten­ants. Bar­foot & Thomp­son re­ceived 107,268 en­quiries be­tween Jan­uary and March this year. The va­cancy rate for prop­er­ties in its port­fo­lio of more than 14,000 rental prop­er­ties re­mained at 1-2 per cent, which equated to prop­er­ties be­ing empty for 5 days be­tween ten­ants.

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