Rental market might be starting to turn
A shortage of rental properties in Tokoroa has pushed up prices for tenants but one real estate manager thinks the market may be turning.
‘‘There is definitely a shortage of rental properties,’’ said Tokoroa Ray White business owner Jenny Lamberton.
She has seen rents increase in Tokoroa by about 20 per cent over the past two years, but she says they are still cheap compared with other parts of New Zealand.
Ray White was keeping up with listings, but the demand was strong.
‘‘We would always love more houses,’’ Lamberton said.
Harveys salesperson Ben Johnson said last month there was a shortage in rentals but since then there had been a small increase.
‘‘Tenants were coming in looking for housing but we just didn’t have anything available, but it has built up again now,’’ he Johnson.
Despite the small increase in available rentals, some people were still finding it hard to get suitable housing for their families.
Chelsea Domaschenz is 21, has a 16-month-old son to look after, and with winter approaching she has temporarily given up looking for housing in Tokoroa and remains in a house outside the town.
‘‘I’ve been looking on and off since October,’’ she said.
‘‘I find it hard that I have safety concerns in properties for my son and those that I can afford don’t meet those requirements.’’
She said all she wanted was a warm and safe place for her son.
‘‘I don’t mind moving into a house that has cosmetic issues.’’
Meanwhile, the number of house sales has been rising in the town.
In 2014 there were a total of 184 sales in Tokoroa reported to the Real Estate Institute of New Zealand, a number that rose to 347 in 2015.
The number of houses sold in Tokoroa had not been this high since 2006-2007.
‘‘It’s good to see it finally going up,’’ Lamberton said.
The booming Auckland market has seen some families there sell up and move, adding to demand in Tokoroa.
Lamberton said in some cases more expensive homes were being bought as rentals, which could give tenants a longterm home.
Meanwhile, some have been driven by rising rents to decide to buy their first home, further fuelling the market.
Jenny Lamberton talks about the increase in Real Estate in Tokoroa.