Property Management

Room for professionals in rental market

What's wrong with this picture?

Thursday, July 01st 2004

One of the biggest industries around, providing an essential and costly service to more than a quarter of all households, is a cottage industry.

Tens of billions of dollars are invested in it, but it operates like something from the pre-industrial, village smithy era.

It is, of course, the residential rental property market.

We are used to thinking of it not as a service industry or as a lot of small businesses, but as an investment option, an asset class, or as part of the real estate market.

But however you look at it, it represents a rapidly growing sector of the economy.

Inland Revenue says around 165,000 people declared income from rents last year, nearly twice as many as 10 years ago.

This is in the context of steadily declining rates of home ownership. The 2001 census found 68 per cent of households were owner-occupied, down from 74 per cent in 1991.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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