Rentals still hard to find in Chch

Posted 06 Jul 2012 by MediaStuff
This item was posted on the Stuff.co.nz website - click here to view the original

 

The tight rental market in Christchurch shows no sign of tailing off but the rest of the country appears to have plenty of accommodation, according to Trade Me Property.

Its June quarter figures show enquiries in Christchurch from potential tenants rose 47 per cent on the same period last year, even higher than the 42 per cent increase in March.

Head of Trade Me Property, Brendon Skipper, said rents appeared to be ''steepening'' in Christchurch as a result. Rents had rocketed up an average 26 per cent, compared with 4 per cent nationally, and listings had plummeted 34 per cent.

Christchurch had three ''pressure cooker'' suburbs in particular: the central city, Linwood and St Albans.

''We've seen the number of properties available for rent in these three suburbs plummet more than 40 per cent on a year ago.

''And on the flipside, the properties that do get listed are attracting huge volumes of enquiry. For example, in Linwood the level of demand is up 101 per cent on last year.''

The rest of the country was more subdued. Rental listings and rents were both up 4 per cent on a year ago and tenant demand was flat.

Listings surged 20 per cent in Auckland and 17 per cent in Dunedin, which Skipper believed was due to tenants hunkering down for winter.

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