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Herald gets Hot on Auckland Rents

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  • Herald gets Hot on Auckland Rents

    "An unseasonably warm winter is being cited as the reason for a boom in the Auckland rental market that has pushed weekly prices for three-bedroom home up in 25 out of 30 suburbs."

    http://www.nzherald.co.nz/nz/news/ar...ectid=10909186

    So they expect to be able to push up Council Rates, double insurance premiums, and not have rent levels increase?

  • #2
    TBH both situations described sound ridiculous. guy living in south Auckland with his 3 year old saying he can't find anything under $500!! come on there are lots of 2 beds in the low 300s.

    another one, 2 bed terrace in mt Albert, slapped with an $858 increase per YEAR! gone up from $370 to $386/wk.. sounds cheap to me! hardly newsworthy.

    EDIT: found the stories http://www.nzherald.co.nz/nz/news/ar...ectid=10909192
    Last edited by Gladdynook; 07-08-2013, 11:35 AM. Reason: link to stories supplied

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    • #3
      I'm amazed at how cheap rents are to be honest. There must be an oversupply.

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      • #4
        Newspaper journalists have never understood the property market. They need to fill the paper everyday and this is the highly important stuff they fill it with lol.

        Yawn.

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        • #5
          Brilliant news.

          I love it when the media start conditioning auckland tenants for more rent rises.

          Lets face it, if the average joe bloggs is too lazy and high headed to buy a cheaper house on the fringes and do it up himself, live there for a few years.
          Then work his way up to a better house in a better area.

          Then he deserves to pay the higher rent to reside in a nicer house in a nicer area.

          I have done my time in Massey (awful place the west), I have no sympathy and zero tolerance for these whingers.

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          • #6
            I love it when the media start conditioning Auckland tenants for more rent rises.
            yes im with you on that Blue, and when the media is negative about property in general..

            But anyway in the last 6 month rents actually stagnated and in some parts decreased... west Auckland is experiencing one of the slowest rental market and winters for long time... there are alot of listing for rent.
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            • #7
              Originally posted by flyernzl View Post
              So they expect to be able to push up Council Rates, double insurance premiums, and not have rent levels increase?

              lol, I've just had my new rates for this coming year together with a letter telling me how they are a bit embarrassed how much they have jacked them up (yet again), so they have given me a little discount.

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              • #8
                Originally posted by Gladdynook View Post
                TBH both situations described sound ridiculous. guy living in south Auckland with his 3 year old saying he can't find anything under $500!! come on there are lots of 2 beds in the low 300s.

                another one, 2 bed terrace in mt Albert, slapped with an $858 increase per YEAR! gone up from $370 to $386/wk.. sounds cheap to me! hardly newsworthy.

                EDIT: found the stories http://www.nzherald.co.nz/nz/news/ar...ectid=10909192
                It's funny, even if there is truth behind the stories, why on earth are they using such lame examples? A 4% yearly rent rise isn't exactly shocking is it? With insurances and rates climbing faster than inflation what do they expect.

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                • #9
                  . . . They expect the ( wealthy generous) Landord to wear it.

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                  • #10
                    Originally posted by Orkibi View Post
                    But anyway in the last 6 month rents actually stagnated and in some parts decreased... west Auckland is experiencing one of the slowest rental market and winters for long time... there are alot of listing for rent.
                    Fear not; plenty of reasons to think increases are just around the corner.

                    Lowest wage growth since 2010

                    www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10909570

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                    • #11
                      I disagree in the short to medium term SB.
                      we already had increases in the bugging of the recovery 2011-2012. At the moment I only see it stagnating again for 1-3 years.

                      i hope I'm wrong !
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                      • #12
                        Renters cant borrow from the bank as you wealthy land owners can. So there is a limit to what you can extract from them and ultimately that dictates the "ultimate value" of the property you buy. I have a feeling a
                        lot of "property investors/speculators" don't understand this relationship. So unless wages go up - something is going to break.

                        Anyway, my lease/rent went up 3.3% just last week, i was upset but i decided to wear it as the cost is still cheaper than moving out, carpet cleans, moving costs etc, agency fees etc. The other side of the coin is that interest on savings account has fallen by 25 points.

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                        • #13
                          Anyway, my lease/rent went up 3.3% just last week, i was upset but i decided to wear it as the cost is still cheaper than moving out, carpet cleans, moving costs etc, agency fees etc.
                          So it's worth you staying then. So then the rent level must be totally fine!
                          Squadly dinky do!

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                          • #14
                            Lol! You play SC2? How did you know I did?
                            Squadly dinky do!

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                            • #15
                              Originally posted by TheFlash View Post
                              Renters cant borrow from the bank as you wealthy land owners can. So there is a limit to what you can extract from them and ultimately that dictates the "ultimate value" of the property you buy. I have a feeling a
                              lot of "property investors/speculators" don't understand this relationship. So unless wages go up - something is going to break.
                              .
                              I tried explaining this to a real estate agent once; she replied 'You don't understand real estate'.

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