WHAT IS HAPPENING WITH RENTALS AT THE MOMENT?

Most media commentary on real estate usually focuses on the selling price, or supply and demand of property for sale.

What's happening in the Rental Market?

Our Head of Property Management in Grey Lynn, Vlad Muhin, had this to say about the current market...

"From our perspective, the Auckland rental market has remained unchanged over the past 8 weeks.

Renting homes has become more challenging due to a 40% increase in rental stock over the quarter, whilst the number of people looking to rent has only increased by 2.5%.

Increased rental stock and competition amongst landlords have driven down prices in the upper quartile.

We monitor the rental market and review our listings and prices every 48 hours on average to keep our landlords in the loop."

Vlad Muhin
Head of Property Management
Barfoot & Thompson, Grey Lynn