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Thread: rental market

  1. #1

    Default rental market

    In Auckland or more specifically North Shore, how is the rental market? if you own a property, what kind of occupancy rate would you expect, like 90% of times you can get tenants? Or maybe in terms of 52 weeks, how many weeks do you expect to have tenants? Cheers.

  2. #2
    Join Date
    Nov 2005
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    3,286

    Default

    North Shore is 51 weeks and 2 days.

    By the airport expect only 50 weeks and 3 days.

    Gem, forgive the sarcasm but the question is meaningless in anything but a purely academic sense.

    xris

  3. #3
    Join Date
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    Default

    Bit difficult to predict the future (and the weather) but definitely don't do your sums assuming that you'll get 52 weeks of rent every year. I'd assume 50 weeks per year (even down by the airport).

  4. #4

    Default

    I agree it varies house by house but a general idea about the rental market would still be very helpful for financial planning. If you can expect the property to be nearly always occupied (95&#37, the decision you make would be very different from if you need to expect vacancy half of the time (50%).

    About the future (or near future), is the rental demand going up or down? How does weather come in the play?

    Thanks a lot for your guys feedback

  5. #5

    Default Where are the stats?

    Quote Originally Posted by xris View Post
    North Shore is 51 weeks and 2 days.

    By the airport expect only 50 weeks and 3 days.

    Gem, forgive the sarcasm but the question is meaningless in anything but a purely academic sense.

    xris
    Xris if (and I don't doubt you are correct) the figures quoted are available, where are they?

    My experience for my North Shore properties are about four - five weeks a year vacancy. The properties are in good condition we do take advice and charge a fair market rent for the areas backed by a couple of appraisals and we do a bit of remedial work when a tenant moves out which accounts for a bit of the down time.

    However, I am interested in the statistics if you would let me know where they are.

  6. #6
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    Default

    Seems your wit is wasted xris

  7. #7
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    Default

    wit? Sarcasm is the lowest form of humour.

    You're right though - it was still missed.

  8. #8
    Join Date
    Apr 2008
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    Not guilty! I didn't miss it.

    I'm coming around to exnzpat's theory that xris is a woman. Late 60s. Degrees in commerce and law. Never married.

  9. #9
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    Gem I'd work out your numbers based on 4 weeks vacancy PA.

  10. #10
    Join Date
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    Mmmmm, shouldn't you work on a best case AND worst case prediction.
    So, what would happen if you had 100% occupancy, but also what would happen if you couldn't get anyone at all.
    Then apply your own judgement about the probabilities of those outcomes.

    Just a thought.


 

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