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  • Rental shortage problems

    Have read news about Huge shortage of rental in Hawks bay, rentals are in High demand in AKL, people are becoming frustrated for NO RENTAL house available in WLG region.

    But I notice that it's never been an issue in Palmerston North.

    When students are returning, offshore people are heading back, FHB are taking houses. The economy of this place is not booming. Perhaps it will in 10 years time.

    So I thought Palmerston North may have more potential for investors.

  • #2
    Originally posted by johnnyandtina View Post
    Have read news about Huge shortage of rental in Hawks bay, rentals are in High demand in AKL, people are becoming frustrated for NO RENTAL house available in WLG region.

    But I notice that it's never been an issue in Palmerston North.

    When students are returning, offshore people are heading back, FHB are taking houses. The economy of this place is not booming. Perhaps it will in 10 years time.

    So I thought Palmerston North may have more potential for investors.
    wellignton doesn't really have a rental problem. There's just high demand for inner city rentals from both young professionals and students. 5-10 minutes out of the CBD there is ample rental supply.

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    • #3
      Wellington has a neat central culture where you can live without owning a car. It does increase demand tho.
      Free online Property Investment Course from iFindProperty, a residential investment property agency.

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      • #4
        Originally posted by johnnyandtina View Post
        Have read news about Huge shortage of rental in Hawks bay, rentals are in High demand in AKL, people are becoming frustrated for NO RENTAL house available in WLG region.

        But I notice that it's never been an issue in Palmerston North.

        When students are returning, offshore people are heading back, FHB are taking houses. The economy of this place is not booming. Perhaps it will in 10 years time.

        So I thought Palmerston North may have more potential for investors.
        This makes no sense to me. You want to invest in a place where there is no rental shortage and that is not booming? Why?
        Squadly dinky do!

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        • #5
          Many looking for rentals in the suburbs of Wellington would disagree that there's no problem. A year ago an open home rental would attract about a dozen people and you'd get about 4 applications. Today it's more like 50 people and a dozen applications. Rents are up 20-25% in that time.

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          • #6
            Rents were flat for a long time and folks definitely adjusted to that. It's taken a lot of people by surprise.
            Free online Property Investment Course from iFindProperty, a residential investment property agency.

            Comment


            • #7
              Originally posted by johnnyandtina View Post
              Have read news about Huge shortage of rental in Hawks bay, rentals are in High demand in AKL, people are becoming frustrated for NO RENTAL house available in WLG region.

              But I notice that it's never been an issue in Palmerston North.

              When students are returning, offshore people are heading back, FHB are taking houses. The economy of this place is not booming. Perhaps it will in 10 years time.

              So I thought Palmerston North may have more potential for investors.

              It is an issue in PN, have you rented any houses yourself lately? Just cause its not on the 6 o'clock news doesn't mean its not an issue. Ive had 100+ applicants for one recently re-rented property, some desperate and it's very hard not to feel for them. Will be looking at options under new district plan to add some more dwellings on my full section properties there.

              From December 2016 (note this is before all the students come back):

              "Housing Advice Centre's Sally Babbage described the growth in need over the last eight months as "scary".
              "People are having trouble finding a place at all – that's before asking whether it's warm and dry and safe and close to schools."
              Those flat-hunting included working families where both parents were earning, elderly people and those with severe physical health problems."

              source: http://www.stuff.co.nz/manawatu-standard/news/87507897/Palmerston-North-faces-social-housing-crisis

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