Some here had a discussion about Christchurch lately.
I also own there and can comment that Prices and Rents are dropping there.
there is an over supply of houses there now and it is simply a supply and demand issue.
3 bedrooms houses that were renting for say $470pw are now renting for 440pw, this is unacceptable drop...
while in Auckland we yearly increase rents by $10-$20pw.
N.Z second largest city?? is to small... with slow population grow to support house and rent inflation.
Yield Indicator report show prices rising more quickly than rents in most places but prices and rents both falling in Christchurch:
Residential property investors in most parts of the country are facing further falls in their rental yields, as property prices in most places continue to outpace rising rents, although Christchurch is a different story, according to the latest REINZ/interest.co.nz Rental Yield Indicator.
Read more: http://www.interest.co.nz/property/7...ces-prices-and
I also own there and can comment that Prices and Rents are dropping there.
there is an over supply of houses there now and it is simply a supply and demand issue.
3 bedrooms houses that were renting for say $470pw are now renting for 440pw, this is unacceptable drop...
while in Auckland we yearly increase rents by $10-$20pw.
N.Z second largest city?? is to small... with slow population grow to support house and rent inflation.
Yield Indicator report show prices rising more quickly than rents in most places but prices and rents both falling in Christchurch:
Residential property investors in most parts of the country are facing further falls in their rental yields, as property prices in most places continue to outpace rising rents, although Christchurch is a different story, according to the latest REINZ/interest.co.nz Rental Yield Indicator.
Read more: http://www.interest.co.nz/property/7...ces-prices-and
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