Rents fail to keep pace with house prices

Monday 26 January 2004

Rentals are not keeping pace with the steep rise in Wellington house prices, leaving some landlords out of pocket.

By The Landlord

Though house prices in the Wellington region have risen about 12 per cent in the past year, rents have not increased at the same rate, rental agencies say.

The number of rental properties available meant tenants could pick and choose, keeping a lid on rents.

Wellington property investor John Perera said there was no indication that rents in the city would rise.

"With all the apartments being built, it's taken the pressure off the market," he said.


Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Commercial

Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer