Rental mar­ket might be start­ing to turn

South Waikato News - - What’s On - TA­MARA THORN

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.

PHOTO: TA­MARA THORN

Jenny Lam­ber­ton talks about the in­crease in Real Es­tate in Toko­roa.

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