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  1. #1

    Default Oversupply of Rental properties in Hamilton?

    I checked the rental properties for Hamilton in Trademe, there are 457 listings, excluding the 1 bedroom or overly priced properties, there are still a lot of them. A decent 3 bedroom property in Winstone Ave Chartwell listed on 30 Dec 2015 and available 30 Jan still available, though it is only asking for $340, this seems to me like oversupply of rental properties to me. Anyone can comment on this?

  2. #2
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,604

    Default

    For rent or to sell?

    I know there are normally around 1000 properties to sell (residential in Hamilton), and a lot less at the moment.

    On my blog last year, I looked at population growth and number of new houses. I think Hamilton and Tauranga and both building more than then need and long term there must be a correction!

    Ross
    More Profit from Property? TEACH ME MORE
    Ross Barnett - Coombe Smith Property Accountants
    Proud to give the best property advice for over 13 years.

  3. #3

    Default

    I mean for rent

  4. #4
    Join Date
    May 2015
    Posts
    214

    Default

    Why the question Andrew? Is it that you are looking to invest in Hamilton if so different areas have their own demand depending if they're located near hospital or uni, central or Chartwell.
    For us we are existing Hamilton investors for 20 years and unfortunately had several ham east houses to relet over the summer which we did successfully to quality tenants at slightly higher rents. We actually had no shortage of potential tenants and one 3 bed brick had massive demand with tenants vying to be first to view. We try and keep out places tidy as well as near to amenities.
    Hope that helps a bit. I don't think there's too many rentals for Hamilton.

  5. #5
    Join Date
    May 2015
    Posts
    214

    Default

    There is around 40 to 50000 homes so that's approx one percent for rent.
    Auckland has 4000 rental listings right now so 400 odd sounds right

  6. #6
    Join Date
    Sep 2013
    Location
    Auckland
    Posts
    777

    Default

    Quote Originally Posted by Rosco View Post
    I think Hamilton and Tauranga and both building more than then need and long term there must be a correction!

    Ross
    In what sort of timeframe do you think supply will exceed demand Ross?

    For Hamilton and Tauranga I can see a number of strong reasons for increasing population growth.
    “Our favorite holding period is forever.”

  7. #7
    Join Date
    Mar 2009
    Posts
    155

    Default

    The area mentioned above is pretty rough. There is a shortage of quality 3,4 bedroom houses in good areas but plenty available in bad areas. Lot of locals in bad areas have cashed up and moving into newer suburbs.

    See the article in stuff today.

    http://www.stuff.co.nz/business/7745...r-centres-rise
    "Hamilton

    Home values across Hamilton City were rising fast - up 4.6 per cent over the past three months and 22 per cent on a year ago.The average value in the city now is $455,966.
    Values in the Waikato District were also accelerating - rising a whopping 8.4 per cent over the past three months and 22.8 per cent for the year..

    There was a shortage of rentals up for grabs, particularly with students returning for university and newcomers to the city starting new jobs, Hamilton valuer Stephen Hare said said. "

    I have rentals in Hillcrest(uni/schools) and agree the above comment into a certain extent. Slightly concerned on the shear number of townhouses going around hamilton



    Quote Originally Posted by AndrewC View Post
    I checked the rental properties for Hamilton in Trademe, there are 457 listings, excluding the 1 bedroom or overly priced properties, there are still a lot of them. A decent 3 bedroom property in Winstone Ave Chartwell listed on 30 Dec 2015 and available 30 Jan still available, though it is only asking for $340, this seems to me like oversupply of rental properties to me. Anyone can comment on this?

  8. #8
    Join Date
    Feb 2015
    Posts
    377

    Default

    What about abundance of land supply?
    Would that restrict major capital gains

  9. #9

    Default

    Hi Bluecoat,
    You have mentioned that the abundance of land would have an impact on capital gains.
    Are capital gains your main interest in real estate?
    As I understand it if your goal is to simply go after capital gains you are speculating.
    I would prefer to be an investor by buying cash flow positive property with a good yield and having the tenant pay my down mortgage
    and other outgoings.
    Capital gains are simply a by-product when the property increases in value.
    Cheers,
    Brian
    Last edited by Kirwee; 05-03-2016 at 01:05 PM.

  10. #10
    Join Date
    Feb 2015
    Posts
    377

    Default

    Quote Originally Posted by Kirwee View Post
    Hi Bluecoat,
    You have mentioned that the abundance of land would have an impact on capital gains.
    Are capital gains your main interest in real estate?
    As I understand it if your goal is to simply go after capital gains you are speculating.
    I would prefer to be an investor by buying cash flow positive property with a good yield and having the tenant pay my down mortgage
    and other outgoings.
    Capital gains are simply a by-product when the property increases in value.
    Cheers,
    Brian
    Not disputing that strategy at all Brian, all investors have a finite time


 

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